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Malaysian consulting company to introduce Islamic banking instruments in Uzbekistan

Uzbekistan Materials 29 April 2021 12:13 (UTC +04:00)
Malaysian consulting company to introduce Islamic banking instruments in Uzbekistan

BAKU, Azerbaijan, Apr. 29

By Klavdiya Romakayeva - Trend:

An agreement was reached on establishing partnership relations between the Central Bank of Uzbekistan and the Malaysian Amanie Group in the field of introducing Islamic banking instruments in Uzbekistan, Trend reports citing the Embassy of Uzbekistan in Malaysia.

Ambassador of Uzbekistan Ravshan Usmanov held talks with the founder of Amanie Group, the Islamic finance consulting company, and President of the International Islamic University Malaysia (IIUM) Mohd Daud Bakar.

Mohd Daoud Bakar is also Chairman of the Shariah Advisory Council at Bank Negara Malaysia, the Securities Commission of Malaysia, Labuan Financial Services Authority, and First Abu Dhabi Bank.

The parties discussed issues of possible involvement of the Amanie Group in the implementation of the principles of Islamic finance in Uzbekistan, including through the creation of the necessary legal framework, as well as the organization, together with IIUM, of training Uzbek specialists in this area.

As a result of the negotiations, an agreement was reached on establishing partnership relations between the Central Bank of Uzbekistan and the Amanie Group company in the field of introducing Islamic banking instruments in our country.

Founded in 2000, Amanie Group has experience in the implementation of Islamic finance instruments, including the development of an appropriate regulatory framework. In this direction, work has been carried out in Kazakhstan and Afghanistan. Amanie Group has offices in the UAE, UK, and Kazakhstan.

IIUM is the leading institution for training in Islamic banking. It was founded in 1983 by the government of Malaysia and is headquartered in the state of Selangor. The total number of students at the university is 26,000 students from 117 countries of the world. The university has six branches throughout Malaysia. The university provides a full cycle of study, including bachelor's, master's, and doctoral programs at 13 faculties.

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Follow the author on Twitter: @romakayeva

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