THE IMPORTANCE AND NECESSITY OF DEVELOPING ISLAMIC FINANCIAL PRODUCTS IN BANKS

Tashmatova Nozima Rustam qizi

Tashkent State University of Economics,PhD student

e-mail: tashmatovanozima@gmail.com

ORCID: 0009-0009-8894-5271

Abstract: The development of Islamic financial products in our country, which are currently developing and attracting many consumers and entrepreneurs with their inclusiveness, has a positive impact on economic growth. As we enter the global financial market, we attract importers, investors, and large financial organizations with our position in both the local and global financial markets, and the diversity of products provided by financial institutions. Islamic finance is currently attracting not only Muslims, but also non-Muslims with its principles of fairness, reliability, and profitability. It is precisely the reasons listed above that raise the need and importance of developing Islamic financial products in our country’s banks.

Keywords: Islamic finance, Islamic banking, qiyas, ijma, musharaka, murabaha, salam, sukuk, takaful.

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