Uzbekistan and Indonesia discuss Islamic finance cooperation

Tashkent, Uzbekistan (UzDaily.com) — On 13 May, the Deputy Minister of Investments, Industry and Trade of the Republic of Uzbekistan, Ilzat Kasimov, held talks with Indra Gunawan, Director of Investments at Indonesia’s Hajj Financial Management Agency.

The Indonesian side represents a state financial institution that manages pilgrims’ funds based on Sharia principles and develops Islamic finance instruments, including sukuk, real estate investments, and other Sharia-compliant assets.

During the meeting, the two sides discussed prospects for expanding trade, economic, and investment cooperation, as well as the introduction of Islamic finance instruments in Uzbekistan, including sukuk, murabaha, and ijara.

Special attention was given to the development of the halal ecosystem and pilgrimage tourism. The parties considered projects to develop hotel infrastructure in Samarkand, Bukhara, and Tashkent, along with initiatives to expand cooperation with Southeast Asian markets.

Following the talks, the Indonesian side was invited to participate in the 5th anniversary Tashkent International Investment Forum.