Challenges Of Implementing Islamic Finance In Our Country

This article analyzes the relevance, current state and challenges of implementing Islamic finance in Uzbekistan. In particular, it examines factors such as an insufficient legal and regulatory framework, inconsistencies in the tax system, a shortage of qualified specialists, low public awareness of Islamic financial products, as well as issues related to Shariah-compliant deposit insurance and the protection of investment accounts. Based on international experience, proposals and recommendations for the development of Islamic finance are put forward.