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A 3-day training on "Islamic financial services: basic concepts and proposals"

On November 21-23, 2022, at the initiative of the Joint Venture "Uzbek Leasing International A.O." JSC in partnership with the Islamic Corporation for the Development of the Private Sector (ICD), in order to open the "Islamic Windows", a 3-day training on "Islamic financial services: basic concepts and proposals" was held in the "Uzbek Leasing International A.O." company.

At the training, the organizers of the training for the employees of "Uzbek Leasing International A.O." widely covered the topics:

  • Introduction of Islamic finance in Uzbekistan and their advantages;

  • Contracts and their types in Islamic Finance;

  • Differences between a traditional bank and an Islamic bank;

  • Islamic financing methods (Rent, Murabaha, Takafful);

  • Investment settlement accounts: Muzoraba and income distribution,

and many other topics.

Another goal of the training was to explain to the participants as much as possible the advantages of the Islamic Window, with the help of real life experience and examples.

ICQ (https://icd-ps.org/ ) is a member of the Islamic Development Bank group and is a multilateral international organization for the development of the private sector. ICD was founded in 1999, has the authorized capital of US$ 4 billion and a paid-up capital of US$ 1.3 billion.

Currently, the Group of consulting services of the Islamic Development Corporation is working on opening the "Islamic Windows" in several banks of Uzbekistan.