July 16, 09:08

Tashkent Hosts Fifth Forum on Islamic Banking and Finance of CIS Countries

The fifth Forum on Islamic Banking and Finance of CIS countries took place in Tashkent, Uzbekistan, in 2026. The event was organized by AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE), an organization based in the UAE.

Participants and Goals of the Forum

The forum was held on July 9th at the Hyatt Regency Tashkent hotel and gathered representatives from various structures, including government bodies, regulators, central banks, the diplomatic corps, financial institutions, and the expert community.

At the opening ceremony, Muhammad Zubair Mughal, CEO of AlHuda CIBE, emphasized the significant potential of Islamic finance in the CIS countries. He noted that further growth of this sector requires a closer alliance between governments, regulatory bodies, financial organizations, and investors to create a sustainable ecosystem for Islamic finance and expand access to financial services.

Attendees and Thematic Sessions

Representatives from the diplomatic missions of the USA, Algeria, Russia, Malaysia, and Azerbaijan attended the opening ceremony. Also present were Valery Li, Head of the Department of Capital Market Ecosystem Development and Regulatory Innovations of the National Agency for Advanced Projects of Uzbekistan, and Zafarjon Mustafayev, Chairman of the Leasing Association of Uzbekistan.

The first thematic session was dedicated to creating an effective Islamic finance ecosystem in the CIS countries. Participants discussed developing the legal framework, implementing AAOIFI standards, improving Islamic banking regulation, and training specialists.

During a panel discussion, experts examined the role of Islamic finance and Takaful (Islamic insurance) in attracting foreign investment. Special attention was paid to using Islamic financial instruments to support small and medium-sized enterprises, strengthen regional cooperation, and promote sustainable economic growth.

Innovations and Sustainable Development

A separate session focused on innovations, discussing the application of Islamic fintech solutions, blockchain technology, digital regulatory compliance tools, and other technological means to expand financial accessibility and infrastructure projects in the financial sector.

The closing session focused on using Islamic finance to advance sustainable development goals. Speakers addressed topics such as Sharia governance, education financing, institutional development, sustainable financing models, and the growing role of Takaful in supporting inclusive economic growth.

Conclusion and Sponsors

Summarizing the forum, Muhammad Zubair Mughal, CEO of AlHuda CIBE, reaffirmed the organization's commitment to supporting governments, regulators, and financial institutions through research, consultation, professional training, and international cooperation. He noted that the growing interest from government bodies, financial institutions, and international experts indicates the strengthening position of Islamic finance in the CIS countries.

The forum concluded with a certificate presentation ceremony for participants and speakers. The organizers reported that the event contributed to the development of international cooperation, knowledge exchange, and the strengthening of partnerships in the field of Islamic banking and finance.

The general sponsor of the forum was Mac & Ro Capital FZC from the United Arab Emirates, the technology partner was O Gold, and the exhibition partner was Open Space Financial Services Ltd. from Nigeria.

uzdaily.uzJuly 9, 07:30

Tashkent hosts seminar on foreign trade forecasting

A practical seminar on foreign trade forecasting is taking place in Tashkent. The event is scheduled for July 6 to 9, 2026.

Organization and Participants of the Seminar

The seminar is organized by the Ministry of Investment, Industry and Trade of Uzbekistan together with the German Agency for International Cooperation (GIZ). Sessions are conducted by professors and experts from the Kiel Institute for the World Economy in Germany.

Content and Goals of the Event

Participants study modern methods of analyzing and forecasting foreign trade, including gravity modeling and computable general equilibrium models. Representatives from the Ministry of Investment, Industry and Trade, as well as other state bodies responsible for economic development and foreign trade, gathered at the event.

Using statistical data from Uzbekistan, participants model various trade development scenarios and gain practical experience in applying advanced analytical tools.

Future Cooperation

After the completion of the seminar, the parties intend to continue joint work on preparing pilot studies, implementing international best practices, and developing scientifically sound approaches to trade policy. This seminar is part of a joint initiative by the Ministry of Investment, Industry and Trade of Uzbekistan and GIZ aimed at strengthening institutional capacity in the field of foreign trade forecasting.

uza.uzJuly 8, 16:02

Strategic Partnership Between Uzbekistan and Japan Gains New Momentum at Business Forum

Economic cooperation between Uzbekistan and Japan is entering a new phase of development. The Uzbekistan–Japan Business Forum, held in Tashkent, was dedicated to expanding interaction in the fields of investment, industry, and technology. Representatives from state institutions, large companies, banks, financial institutions, and business associations took part in the event.

Foundation of Cooperation and Assessment of Reforms

This forum was viewed as a tool for implementing agreements reached during the official visit of President Shavkat Mirziyoyev to Japan in December 2025. The main focus was on attracting capital and developing joint production projects. The parties discussed the introduction of high-tech manufacturing, the application of modern solutions, and the increase of production capacities.

Japanese businesses highly praised the reforms being implemented in the Uzbek economy, as well as the favorable environment created for entrepreneurs. These factors were noted as an important basis for further strengthening the existing partnership.

Investment Activity and Trade

Currently, 14 out of 137 enterprises operating in Uzbekistan with Japanese capital are officially registered in the country. This figure indicates growing confidence of Japanese investors in the republic's market. Proposals for further expansion of the partnership through new projects were presented at the forum.

Trade and economic ties are also showing steady growth. By the end of 2025, the trade volume reached $375.3 million. Participants emphasized that the potential could be higher and noted the need to intensify cooperation in expanding product assortments, strengthening industrial cooperation, and entering new markets.

Priority Areas and Outcomes

During the event, special attention was paid to promising projects in energy, geology, transport, healthcare, and education. Priority tasks were identified as technology localization, training qualified personnel, and creating joint production. The possibility of effectively utilizing the advanced experience of Japanese companies in engineering, digital solutions, and corporate governance was also discussed, setting the vector for future industrial cooperation.

At the conclusion of the business forum, the parties agreed to expand the scope of practical interaction. B2B and G2B meetings were held to develop new investment projects and strengthen financial partnership. Specialists stressed that these contacts will form a solid foundation for implementing new joint projects in the coming years, contributing to the strengthening of economic partnership between Uzbekistan and Japan.