Central Bank of Uzbekistan Joins AAOIFI as Regulatory Member
Manama, Kingdom of Bahrain / Tashkent, Republic of Uzbekistan – The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has announced that the Central Bank of the Republic of Uzbekistan has officially become a regulatory member of the organisation.
The membership reflects the Central Bank of Uzbekistan’s commitment to strengthening its Islamic finance regulatory and supervisory framework in line with internationally recognised standards.
Through this membership, the central bank will gain access to AAOIFI’s Shari’ah, accounting, auditing, governance, and ethics standards, along with technical support, capacity-building initiatives, and participation in standard-setting discussions.
AAOIFI stated that regulatory membership is designed to support central banks and supervisory authorities in enhancing regulatory consistency, market confidence, and cross-border harmonisation in Islamic finance.
The organisation noted that the inclusion of the Central Bank of Uzbekistan expands its global network of regulators and highlights the growing relevance of Islamic finance in Central Asia.
The membership also aims to support cooperation in regulatory capacity building, knowledge exchange, and the adoption and implementation of AAOIFI standards, contributing to the development of Uzbekistan’s broader financial sector.
H.E. Timur Ishmetov, Governor of the Central Bank of Uzbekistan, said the membership represents an important step in developing a well-regulated Islamic finance framework in the country and will support efforts to strengthen regulatory practices and market confidence.
AAOIFI Secretary General Omar Mustafa Ansari said the organisation welcomes the Central Bank of Uzbekistan as a regulatory member and looks forward to supporting regulatory development and the implementation of standards.
INDUSTRY IMPACT (IFD Editorial Insight)
The Central Bank of Uzbekistan’s membership in AAOIFI signals continued institutional support for the development of Islamic finance in Central Asia. Access to internationally recognized standards and regulatory guidance may help strengthen market confidence and support the gradual expansion of Shariah-compliant financial services within the country.
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