The first day of sessions at the Samarkand Islamic Finance Forum (SIFF 2026) concluded in Samarkand on 27 October 2026. The forum brought together more than 400 participants from 18 countries, including representatives of central banks, international financial institutions and commercial banks, as well as academics and industry experts. Participants represented Central Asian countries, Malaysia, Pakistan, the United Arab Emirates, Jordan, Kuwait, Bahrain, Türkiye, the United Kingdom and other countries.
Discussions covered the current state of Islamic finance in Uzbekistan, Kazakhstan, Kyrgyzstan and Tajikistan, priorities for market development, the introduction of new financial products, improvements to regulatory frameworks and opportunities to expand regional cooperation. Particular emphasis was placed on Uzbekistan’s move towards implementing practical mechanisms as part of its efforts to establish a legal framework for Islamic finance.
Sessions featuring Tan Sri Nor Shamsiah Mohd Yunus, former Governor of the Central Bank of Malaysia, representatives of the central banks of Uzbekistan and Kyrgyzstan, and experts from Meezan Bank, HSBC Amanah, IFC and other international institutions addressed the establishment of Islamic windows within conventional banks, corporate governance, internal controls, risk management and the adaptation of international standards to national practice. Participants also considered how to ensure the sound operation of financial institutions and create the conditions necessary for new market entrants.
The forum also focused on institutional reforms underway to develop Islamic finance in Uzbekistan, including tasks under the 2026–2030 roadmap, which covers five priority areas and 39 measures. Developing banking services infrastructure, establishing liquidity management mechanisms, introducing international standards and training qualified professionals were identified as key priorities.
The forum comes at a new stage in the development of Islamic banking in Uzbekistan, marked by the establishment of a legal framework and the issuance of the first licence. This process is significant for expanding the range of financial services, promoting competition in the banking sector, attracting investment and creating additional financing opportunities for individuals and businesses.
The forum will continue on 28 October 2026. Upcoming sessions are scheduled to address Islamic capital markets, sukuk and liquidity management instruments, human capital development, financial literacy and strengthening public trust.
