NAPP, IsDB Discuss Islamic Finance Development in Uzbekistan
Uzbekistan, NAPP, Islamic Development Bank, IsDB, UNDP, Islamic finance, capital market, sukuk, takaful, Capital Market Law, Yahya Rahman
Uzbekistan's National Agency of Perspective Projects (NAPP) recently engaged in discussions with the Islamic Development Bank (IsDB) and the United Nations Development Programme (UNDP) in Uzbekistan regarding the advancement of Islamic finance within the nation.
The IsDB delegation was headed by Yahya Rahman, the Global Head of Islamic Finance Advisory, while Faizulla Salahuddinov, a Project Manager at UNDP in Uzbekistan, represented the UNDP.
A key focus of the meeting was exploring future collaborative efforts in formulating Uzbekistan's Capital Market Law. Significant attention was also dedicated to joint ventures aimed at introducing Islamic finance tools, such as sukuk and takaful.
Furthermore, participants deliberated on the potential for obtaining technical support from the Islamic Development Bank to aid in the execution of these initiatives.
The meeting concluded with both parties reiterating their shared commitment to enhanced cooperation and their willingness to undertake joint projects designed to cultivate Uzbekistan's Islamic finance market.