The Council's activities are aimed at developing international standards for the regulation and supervision of Islamic financial institutions, to implement effective corporate governance and risk management mechanisms, as well as to conduct research and capacity building of the staff in this field, and to assist member organisations in these matters.
Membership in this organization will enable the Central Bank to explore the experience of other countries and implement best international practices
in the regulation and supervision of Islamic financial institutions.
For reference: The Council was established in 2002 and is headquartered in Kuala Lumpur (Malaysia). Currently, the Council has 188 members, including 81 regulators and supervisors, 10 international intergovernmental organisations, 97 market participants. Also, the financial regulators of Kazakhstan, Kyrgyzstan and Tajikistan are members of the Council.
Tourism publication “Arab Tourist” has published an article dedicated to Uzbekistan, a unique country located in the heart of Central Asia and closely associated with the rich heritage of the Silk Road, reports Dunyo IA.
Publication highlights an interesting geographical feature: as a landlocked republic, Uzbekistan, together with Liechtenstein, is one of only two countries in the world that are completely surrounded by countries that are also landlocked.
Publication pays particular attention to the historical significance of the ancient cities along the Silk Road, which connected China with Central Asia, the Middle East and Europe. Samarkand, with its famous Registan Square, Bukhara, with its numerous mosques and madrasas and Khiva, with the ancient architectural complex of Itchan Kala, are presented as key centres of trade, science and Islamic civilisation, whose rich cultural heritage attracts travellers from around the world.
Article also describes the country’s unique natural and geographical diversity, ranging from the vast areas of the Kyzylkum Desert and the mountain ranges of the Tien Shan and Pamir-Alay to the fertile Fergana Valley. It highlights the important role of agriculture, specialising in the cultivation of cotton, grains, fruits and vegetables, and also addresses the region’s environmental challenges, including the fate of the Aral Sea.
“Arab Tourist” publication emphasises that modern Uzbek cities such as Tashkent, Samarkand, Bukhara, Khiva, Namangan and Andijan seamlessly combine the functions of administrative, economic and tourism centres, while carefully preserving the legacy of great historical figures in science, including the outstanding astronomer and mathematician Ulugh Beg.