Terms and concepts

Universal banks, more commonly known as financial services companies, engage in several of these activities.

Central banks are normally government-owned and charged with quasi-regulatory responsibilities, such as supervising commercial banks, or controlling the cash interest rate.

Islamic banks adhere to the concepts of Islamic law. This form of banking revolves around several well-established principles based on Islamic laws.

In October, 2006, the law of the Republic Uzbekistan “About mortgage” entered into force.

decree of the President of Republic Uzbekistan from February 16, 2005, “About further development  of housing construction and dwelling market”,
Money is any object that is generally accepted as payment for goods and services and the repayment of debt.

Fiat money is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity (such as gold).

Fiduciary money includes demand deposits (such as checking accounts) of banks. Fiduciary money is accepted on the basis of the trust its issuer (the bank) commands.

Most modern monetary systems are based on fiat money. However, for most of history, almost all money was commodity money, such as gold and silver coins