(MENAFN) The Islamic Development Bank inked a deal that valued at USD265,000 to offer technical support to Uzbekistan for the establishment of a legal framework for Islamic banking and finance.
In addition, the deal predicts the growth of the requisite regulatory, supervisory, and Shariah guidelines, establishing awareness and building capacity for Islamic banking in the country.
The organization has all the essential expertise to aid Uzbekistan establish a Shariah-compliant banking sector, according to IsDB Group Chairman Dr. Muhammad Al-Jasser.
The project is planning to find all modalities to aid in the creation of Islamic financial windows in the Central Asian country, he further declared.
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