ESTABLISHMENT OF ISLAMIC BANKS IN UZBEKISTAN

This article examines the legal and theoretical foundations for the establishment of Islamic banks in Uzbekistan. It analyzes the distinctive features of Islamic banking compared with conventional banking and discusses various Shariah-compliant financial instruments, including Mudarabah, Murabaha, Ijarah, diminishing partnership, and guarantee mechanisms. Particular attention is paid to contemporary scholarly views regarding service fees, binding promises, and guarantees. The article also highlights the importance of introducing Islamic banking activities in accordance with international standards and Shariah principles.