Khalilova Nilufar Ahmatovna,
Teacher of the Department of Social and Economic Sciences,
Andijan Branch of Kukan University
Andijan, Uzbekistan
Email:nilufarahmatovna2405@gmail.com
JEL Classification:E5, E52
Abstract. This article examines the prospects for implementing Islamic banking products — Salam and Istisna contracts — in the commercial banking sector of
Uzbekistan. These contracts represent Shariah-compliant financing mechanisms that can be effectively applied in the agricultural and industrial sectors. The study explores the economic and social effectiveness of these products through the case of Agrobank JSCB, using international experiences, qualitative content analysis, and expert surveys. The experts surveyed highlighted the significant potential of the Salam product in agriculture and the Istisna product in supporting the development of infrastructure and industry. Based on the findings, a model adapted to Uzbekistan’s context was developed, along with recommendations for the effective implementation of these products. The need to conduct pilot projects, develop human resources, and enhance technological infrastructure was also emphasized.
Keywords: Islamic banking products, Salam, Istisna, Shariah-compliant financing, Agrobank, Uzbekistan banking sector, agricultural finance, infrastructure finance