1 HamkorBank
2 The Islamic Development Bank (IDB)
3 Emirates Islamic Bank
Trading
List of Islamic Banks in Uzbekistan
Published by Gbaf News
Posted on April 5, 2013
1 min read· Last updated: June 11, 2018
Key Takeaways
- Uzbekistan has formally legalized Islamic banking, effective June 29, 2026.
- Initial rollout will involve Islamic “windows” in existing banks, with two full-fledged Islamic banks launching by 2030.
- HamkorBank is preparing to offer Islamic finance products alongside its conventional services.
- The Islamic Development Bank operates as a development institution, not a commercial bank in Uzbekistan.
- Despite the title, Emirates Islamic Bank is based in Dubai and not operating in Uzbekistan.
References
Frequently Asked Questions
What Islamic banks currently operate in Uzbekistan?
No full Islamic banks are yet operational; services will begin via Islamic windows in existing banks, and two dedicated Islamic banks are planned by 2030.
What bank is readying Islamic finance services now?
HamkorBank is preparing to offer Islamic finance products, though not yet fully Sharia‑compliant bank.
What is the role of the Islamic Development Bank (IDB) in Uzbekistan?
IDB is a multilateral development finance institution headquartered in Jeddah, funding infrastructure and education projects in Uzbekistan—not functioning as a commercial Islamic bank.
Is Emirates Islamic Bank operating in Uzbekistan?
No; Emirates Islamic Bank is based in Dubai, UAE, and does not have operations in Uzbekistan.
When will Islamic banking become available in Uzbekistan?
Islamic windows will begin in 2026, and two full‑fledged Islamic banks are expected to launch between 2026 and 2030.
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