The Secretary-General of the Islamic Financial Services Board (IFSB), Dr Ghiath Shabsigh, welcomed His Excellency (H.E.) Abrorkhuja Turdaliev, Deputy Chairman of the Central Bank of the Republic of Uzbekistan and his delegation, at its headquarters in Kuala Lumpur, Malaysia during a working visit.
The meeting featured constructive discussions on advancing safe and sound Islamic finance practices, adapting the IFSB standards to support the growth of Uzbekistan’s Islamic banking sector, and exploring strategic opportunities aligned with Uzbekistan’s financial sector development goals.
Uzbekistan has demonstrated strong momentum in economic reform and financial inclusion, notably through the 2024 statute allowing microfinance institutions to offer Islamic financial services. These developments are part of broader efforts to attract ethical, Shari’ah-compliant capital and expand financial access.
The visit also reaffirmed the IFSB’s role as a global standard-setter in promoting resilience and stability within the Islamic financial services industry. The delegation was briefed on the IFSB’s standards development work, capacity-building initiatives, and its engagement with 61 member jurisdictions.
The IFSB briefed the delegation on its role as a global standard-setting body, including its work in developing regulatory frameworks and international standards, implementing capacity development programmes, and fostering dialogue among its members across 61 jurisdictions.
Uzbekistan joined the IFSB in 2024, and this visit marks a step forward in deepening institutional cooperation. The IFSB reaffirms its commitment to supporting Uzbekistan’s aspirations for a sound and inclusive Islamic finance ecosystem.
The IFSB extends its appreciation to H.E. Mr Turdaliev and his delegation for their valuable engagement and looks forward to further collaboration in advancing their mission.
