Landscaping analysis of islamic finance instruments in uzbekistan

Figure 5: The impact of implementing and developing IF system in Uzbekistan 

 

0%

20%

40%

60%

80%

100%

Competition among financial institutions will increase

Development of "halal" products and services

Attracting foreign investment

Attracting domestic investments (direct the funds of the

population to financial institutions)

Other

Individuals

Busineses

---

33 

 

However,  47  percent  of  businesses  and  58  percent  of  individuals  held  pessimistic 

views pertaining to the possibility of implementation of Islamic banking and finance in 

Uzbekistan  by  stating  that  responsible  agencies  were  not  paying  much  attention  to 

this area. Other factors included competition, lack of specialists, lack of educational 

institutions, etc.