Tashkent Hosts CIS Islamic Banking and Finance Forum

Tashkent, Uzbekistan (UzDaily.uz) — Tashkent hosted the fifth CIS Islamic Banking & Finance Forum 2026, organized by the UAE-based AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE).

The forum was held on 9 July at the Hyatt Regency Tashkent and brought together representatives of government agencies, regulators, central banks, the diplomatic corps, financial institutions and the expert community.

Opening the event, AlHuda CIBE Chief Executive Officer Muhammad Zubair Mughal said the CIS countries have significant potential for the development of Islamic finance. He said further growth of the sector requires closer cooperation among government institutions, regulators, financial organizations and investors to build a sustainable Islamic finance ecosystem and expand access to financial services.

The opening ceremony was attended by representatives of the diplomatic missions of the United States, Algeria, Russia, Malaysia and Azerbaijan, Valeriy Li, Head of the Capital Market Ecosystem Development and Regulatory Innovation Department at Uzbekistan's National Agency for Perspective Projects, and Zafarjon Mustafayev, Chairman of the Leasing Association of Uzbekistan.

The first thematic session focused on building an effective Islamic finance ecosystem in the CIS countries. Participants discussed the development of the regulatory framework, the implementation of AAOIFI standards, improvements to Islamic banking regulation and the training of specialists.

During a panel discussion, experts examined the role of Islamic finance and Islamic insurance (takaful) in attracting foreign investment. Particular attention was given to the use of Islamic financial instruments to support small and medium-sized enterprises, strengthen regional cooperation and promote sustainable economic growth.

A separate session was devoted to innovation, with participants discussing the application of Islamic fintech, blockchain technology, digital regulatory compliance solutions and other technological tools to expand financial inclusion and finance infrastructure projects.

The final session focused on the use of Islamic finance to advance sustainable development goals. Speakers addressed Sharia governance, education financing, institutional development, sustainable financing models and the expanding role of takaful in supporting inclusive economic growth.

Summing up the forum, AlHuda CIBE Chief Executive Officer Muhammad Zubair Mughal reaffirmed the organization's commitment to supporting governments, regulators and financial institutions through research, consulting, professional training and international cooperation. He said growing interest from government bodies, financial institutions and international experts demonstrates the strengthening position of Islamic finance across the CIS.

The forum concluded with a certificate presentation ceremony for participants and speakers. According to the organizers, the event helped promote international cooperation, knowledge sharing and stronger partnerships in Islamic banking and finance.

Mac & Ro Capital FZC of the United Arab Emirates served as the forum's general sponsor, O Gold was the technology partner, and Nigeria's Open Space Financial Services Ltd. was the exhibition partner.