Islamic Banking in Uzbekistan: Digital Think Tank

How Uzbek banks can define, launch, and scale Islamic banking models

As Uzbekistan moves closer to a formal Islamic finance framework, banks are preparing for the decisions that will shape how they enter, operate, and scale in the market.

For many institutions, the first strategic question is the operating model: should they launch through an Islamic window within the existing bank, or establish a full-fledged Islamic bank with dedicated governance, operations, and infrastructure?

This Azentio-hosted Digital Think Tank brings together senior banking leaders in Uzbekistan, and Khaled Berjawi, SVP Product Management, Islamic Banking at Azentio, to explore how banks can move from market interest to practical execution.

Overview

Islamic finance creates a significant growth opportunity for Uzbekistan’s banking sector, but successful market entry depends on more than product launch.

Banks need to define the right operating model, establish clear Shari’ah governance, build operational segregation where required, and ensure the underlying technology can support compliant products, profit calculation, distribution, reporting, and digital customer journeys.

This session will examine the practical choices banks need to make when evaluating Islamic windows and full-fledged Islamic banks, from early-stage implementation priorities to long-term scalability across retail, SME, corporate, and digital banking services.

Discussion topics include

Islamic windows versus full-fledged Islamic banks: choosing the right operating model.
Governance, compliance, and operational foundations for Islamic banking.
Product strategy and early-stage implementation priorities.
Profit calculation, distribution, and Shari’ah-compliant operations.
Operational segregation across conventional and Islamic banking models.
Integration with core banking, digital channels, and existing systems.
The future of Islamic finance in Uzbekistan and Central Asia.