NAPP, IsDB Discuss Islamic Finance Development in Uzbekistan

Tashkent, Uzbekistan (UzDaily.uz) — The National Agency for Perspective Projects (NAPP) of Uzbekistan held talks with representatives of the Islamic Development Bank (IsDB) and the United Nations Development Programme (UNDP) in Uzbekistan on the development of Islamic finance in the country.

The IsDB delegation was led by Yahya Rahman, Global Head of Islamic Finance Advisory. The UNDP delegation included Faizulla Salahuddinov, Project Manager at UNDP in Uzbekistan.

During the meeting, the parties discussed prospects for further cooperation in drafting Uzbekistan's Capital Market Law.

Particular attention was given to joint initiatives aimed at introducing Islamic finance instruments, including sukuk and takaful.

The participants also discussed the possibility of securing technical assistance from the Islamic Development Bank to support the implementation of these initiatives.

At the conclusion of the meeting, the parties reaffirmed their mutual interest in strengthening cooperation and expressed readiness to implement joint projects aimed at developing the Islamic finance market in Uzbekistan.