Prospects for the development of islamic microfinance services in uzbekistan

Abstract

This article examines the prospects for the development of Islamic microfinance services in Uzbekistan,
highlighting its potential in reducing poverty, promoting inclusive economic growth, and ensuring social justice. It explores
the global rise of Islamic finance, analyzes the current state and challenges of its implementation in Uzbekistan, and
compares Islamic microfinance with traditional microfinance models. The paper underscores the necessity of a robust
legal and regulatory framework, increased public awareness, and the involvement of international institutions to support
the growth of Shariah-compliant microfinance in the country.