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International Finance and Accounting

Abstract

Islamic finance has successfully overcome the global financial crisis, has proved its resilience to systemic risks, is viable and flexible in the secular legal environment, and contributes significantly to overall economic growth. At the same time, it offers opportunities for those who apply for Islamic finance based on their religious beliefs, and for those who wish to better meet their financial needs through the system.This article analyzes the Islamic economy, banking and financial system, its development and its role in the world. There are recommendations on the relevance and practical application of this system in Uzbekistan.

References

1. Ahmad, M. Abu-Alkheil (2012) "Ethical Banking and Finance: A Theoretical and Empirical Framework for the Cross-Country and Inter-bank Analysis of Efficiency, Productivity, and Financial Performance" Ltd. Germany 2. Bekkin R.I., 2009, Islamic economic model and modernity. Marjani Publishers, Moscow 3. Shayx Muhammad Sodiq Muhammad Yusuf. Tafsiri Hilol. Toshkent “Sharq” 2012 5-bet 4. Mufti Taqi Usmoniy. Al-Azhar Fatwa declaring interest permissible.www.albalagh.net/qa/azhar_fatwa_interest.html. 5. Azmat, S., Skully, M., Brown, K., 2015. Can Islamic banking ever become Islamic? 6. Citibank annual report 2018, Citi Research, Reuters, SNL Research 7. “O‘zbekiston Respublikasini yanada rivojlantirish bo‘yicha harakatlar strategiyasi to‘g‘risida”gi O‘zbekiston Respublikasi Prezidentining 2017 yil 7 fevraldagi PF-4947-sonli Farmoni. 8. Chapra M.U What is Islamic Economics?-Jeddah 2001, p-33 9. E.A.Baydaulet, X. Xasanov “Islomiy moliya asoslari” O‘zbekiston 2019, 401-bet 10. www.cbu.uz 11. www.aims.com 12. www.islom.uz 13. www.worldometers.info

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