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30 December, 2025, 10 Rajab, 1447
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 The Special Commission for the reception of foreign citizens at the International Islamic Academy of Uzbekistan

08.08.2018   56217   3 min.
 The Special Commission for the reception of foreign citizens at the International Islamic Academy of Uzbekistan

Nowadays, the period of intensive reforms in every field is going on in our country. The great opportunities are being created for the young generation in order to bring them up as educated, skilled specialists of their chosen field.

In particular, the International Islamic Academy of Uzbekistan, established in accordance with the Decree of the President of the Republic of Uzbekistan of April 16, 2018 "On Measures of improving the Spiritual Enlightenment Activities" has good conditions for local as well as foreign students.

The aim of the academy is to prepare Bachelor and Master students in various religious fields such as Quranic studies, Hadith, Islamic law, Aqedah, Sufism, Islamic economy and finance, History of Islam, its sources and philosophy, and also in the modern fields like religious studies, International relations, Foreign languages, Pilgrim tourism and Classical Oriental Literature along with researchers and academic staff conducting thorough researches in these spheres.

In accordance with the Decree of the President of the Republic of Uzbekistan of June 5, 2018 "On additional measures of improving the quality of education in higher education institutions and ensuring their active participation in the country's comprehensive reforms," the International Islamic Academy of Uzbekistan is enrolling citizens of foreign countries by interviews only.

The special commission for admission of foreign students at the International Islamic Academy of Uzbekistan is conducting interviews with foreign applicants. Up to now, citizens from Russia, Tajikistan, and Kyrgyzstan have been interviewed for their desired fields of study.

It is worth noting that the process of admission and recruitment of the foreign citizens to the International Islamic Academy of Uzbekistan is going on.

Directions of undergraduate education of the International Islamic Academy of Uzbekistan are as follows:

  • Islamic Studies (Quranic and Hadith studies, Aqedah and Sufism, Islamic Law, History of Islam and Studies of its source)
  • Philology and Languages Teaching (Classical Oriental Literature)
  • Religious studies
  • International relations
  • Economics (Islamic economy and finance)
  • Foreign languages(Arabic)
  • Tourism(Pilgrim tourism)
  • Psychology( religious socio- psychology)

 

The directions of Master's degree are:

  • Quranic studies
  • Hadith studies
  • Aqedah, Kalam, Theological doctrines
  • Islamic law
  • History of Islam and studies of its sources
  • Religious studies
  • History (Islamic Civilization)
  • Economics (Islamic Economy)
  • Classic Philology (Classic Oriental Literature and studies of its sources)
  • International relations and modern political processes
  • Tourism (Pilgrim Tourism Organization and Management)
  • Psychology( religious socio- psychology)
  • Banking in Islam

 

Directions in doctoral studies:

  • Quranic studies
  • Hadith studies
  • Fikh
  • Kalam
  • History of Islam and studies of its sources

Foreign students are enrolled by interviews. Everyone who wants to become a student of the Academy visit intdeptuz@gmail.com for more detailed information.

Internal Relations Office and International Students Office are always ready to help you!

Telephone/ Fax: +998 71 244 95 93 or +998 71 244 22 69

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The Central Bank forecasts the emergence of at least 10 Islamic banks by 2030

28.10.2025   20760   4 min.
The Central Bank forecasts the emergence of at least 10 Islamic banks by 2030

The Central Bank expects to establish at least 10 full-fledged Islamic banks by 2030. Also, “Islamic windows” — branches providing Sharia financial services — will appear in three state banks. The Central Bank considers Islamic finance as a tool for withdrawing funds from the shadow economy.

Why is this important

According to a UNDP survey, 68% of Uzbekistan’s population does not want to use traditional banking services due to religious beliefs. Launching Islamic banks will expand financial inclusion, increase bank assets, and reduce the share of the shadow economy. This is the largest transformation of the financial system since independence.

What happened

  • The Central Bank forecasts the emergence of at least 10 Islamic banks by 2030;
  • Three state banks (not yet defined) will create “Islamic windows”;
  • CB Deputy Chairman Abrorhuja Turdaliyev called Islamic finance a tool for bringing funds out of the shadows;
  • In September, the Legislative Chamber approved the law on Islamic banking activities in the first reading;
  • UNDP Survey: 68% of the population and 60% of businesses do not use traditional banks due to their religious beliefs.

Draft law

The document introduces the concepts of “Islamic banking activity”, “Islamic financial operations”, “investment deposit”, and others. A separate license is provided for Islamic banks. Classical banks will be able to organize “Islamic windows” if they have a license.

Islamic products: Murabaha (deferred trade financing), Mudaraba (investment partnership), Mushoraka (joint venture), Wakala (agency financing), Salam (prepayment of goods).

Features of regulation

  • Islamic banks will be able to conduct direct trade activities, establish legal entities, and acquire shares in the authorized capital without restrictions;
  • Islamic Finance Councils (Sharia Councils) will be established under the Central Bank and banks;
  • Notarial acts of Islamic banks are exempt from state duty;
  • A separate tax regime may be introduced, taking into account the specifics of Islamic finance.

Assessment of demand

The Deputy Chairman of the Central Bank clarified: when we talk about 50-60% of the population preferring Islamic finance, we are talking about those who prefer it. Those who categorically refuse traditional services are significantly fewer.

Context

Islamic finance prohibits the collection of interest (riba) and speculative operations. Instead, partnership models are used, where the bank and the client share profits and risks. Uzbekistan is a predominantly Muslim country (90%+ of the population), where a significant portion of citizens avoid traditional banks for religious reasons.

Creating 10 Islamic banks by 2030 is an ambitious task, given that there are currently around 35 commercial banks operating in the country. “Islamic windows” in state banks will allow large players (Uzpromstroybank, Halyk Bank, Asaka Bank) to enter a new segment of clients without creating separate structures.

The Central Bank sees Islamic finance as a tool for combating the shadow economy: religiously motivated citizens who do not trust traditional banks will be able to legalize funds through Sharia products.

A separate tax regime may include benefits for Murabaha-type operations, where the bank formally purchases goods and resells them to the client with a markup — to avoid double taxation.