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DOI: LEGAL APPROACHES TO THE INTRODUCTION OF ISLAMIC INVESTMENT FUNDS IN UZBEKISTAN
Jumagulov Alisher Ernapasovich , Senior Lecturer (Phd) At The Department Of Business Law Tashkent State Law University UzbekistanAbstract
The article analyzes the possibilities of the normative legal framework for the organization of activities of Islamic investment funds in Uzbekistan and legal approaches in this regard.
Although views on the need to use the opportunities of Islamic finance in Uzbekistan have existed for a long time, no progress has been observed in terms of legislation. The provision of Islamic finance services in the private sector is rapidly developing while the legislature is closely monitoring the processes. Today, according to the author, two different approaches have been formed in Uzbekistan regarding the formation of legislation related to Islamic finance. According to the first approach, new legislation on Islamic finance should be created. The second approach rejects the creation of new legislation and considers it sufficient to introduce amendments and additions to existing legislation. In the course of the analysis, the author studied the contents of both approaches more widely and expressed his opinion. In the concluding part of the article, the author put forward proposals on the establishment of Islamic investment funds and their legal regulation and improvement of national legislation.
Keywords
Investment fund, investment company, Islamic investment fund
References
Islamic finance and banking system. The translator is Botyrhoja Joraev. - Tashkent: Uzbekistan, 2014. - B. 340.
Electronic copy available at: http://ssrn.com/abstract=1310449 Working Paper November 2008 ISLAMIC INVESTMENT FUNDS: AN ANALYSIS OF RISKS AND RETURNS Sanjoy Bose, New York Institute of Technology Robert W. McGee, Florida International University
https://president.uz/uz/lists/view/4057
Islamic finance and banking system. Translator: Botyrhoja Joraev.-T.: "Uzbekistan", 2014. -341 p.
Islamic finance and banking system. The translator is Botyrhoja Joraev. - Tashkent: Uzbekistan, 2014. - B. 343.
Law of the Republic of Kazakhstan on July 7, 2004 No. 576-II Ob investitsionnyx i venchurnyx fondax
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