Ministry of Justice Registers Regulatory Acts for Islamic Banking Operations

Uzbekistan's Ministry of Justice has officially recorded a series of revisions and expansions to existing departmental legal instruments that govern the activities of Islamic banks. These regulatory updates were crafted to align with Law No. ZRU-1126, titled "On Islamic Banking Activity," which was signed into law on March 27, 2026.

As reported by the Ministry of Justice, modifications were applied to ten departmental normative-legal acts, all of which have successfully completed state registration. This initiative aims to construct a robust legal infrastructure essential for the functioning of Islamic financial institutions within the nation.

The updated regulations specifically refine the frameworks for risk management applicable to banks and banking groups. They also adjust the criteria for commercial banks acquiring real estate, various types of property, and equity stakes in corporate entities. Furthermore, the procedures for determining the maximum risk exposure permitted for a single borrower or a collective of interconnected borrowers, including those affiliated with the bank, have been revised.

In addition, the regulatory changes address corporate governance benchmarks within commercial banks and modify the processes by which banks contribute to the Deposit Guarantee Fund.

The Ministry of Justice emphasized that these recently registered provisions are intended to reinforce the legal foundation overseeing Islamic banking operations throughout Uzbekistan.