BAKU, Azerbaijan, August 10. The Islamic
Development Bank Institute (IsDBI), in cooperation with the United
Nations Development Programme (UNDP) and the Committee on Religious
Affairs of the Republic of Uzbekistan, convened a high-level
roundtable to present and discuss the findings and recommendations
of the Concept Paper on the Introduction of a Waqf System in
Uzbekistan. The first-of-its-kind event, held on 3 August 2026 in
Tashkent, marked an important step in the national dialogue on
developing and scaling the Waqf institution.


More than 40 representatives attended from government agencies,
regulatory bodies, religious institutions, development
organizations, and academia. Participants included representatives
of the National Agency for Social Protection under the President's
Administration, National Agency for Perspective Projects, Central
Bank of Uzbekistan, Ministry of Economy and Finance, Ministry of
Justice, Ministry of Culture, Tax Committee, Chamber of Commerce
and Industry, Muslim Board of Uzbekistan, Vaqf Public Charity
Foundation, International Islamic Academy, and Tashkent Islamic
Institute.


The roundtable was organized as part of a technical assistance
project on 'Developing the Enabling Environment for Awqaf in
Uzbekistan'. Implemented since 2025, the initiative supports the
development of relevant legislative, institutional and regulatory
frameworks, and the strengthening of technical capacity in this
area.


Uzbekistan has taken important steps to introduce Islamic
finance. Amendments to national legislation aimed at enabling
Islamic banking were adopted and entered into force in June 2026. A
proposed Law on Capital Market, which includes specific chapters on
Islamic Sukuk securities, is under review and deliberation by the
Oliy Majlis of Uzbekistan.







The Concept Paper presented at the workshop reviews
international best practices, identifies legal, institutional and
fiscal constraints affecting Waqf development in Uzbekistan, and
proposes an implementation-oriented framework aligned with
Uzbekistan's national development priorities. Discussions noted
that the Vaqf Public Charity Foundation was established in 2018,
while the existing legislative framework does not yet provide a
comprehensive legal and regulatory basis for the efficient,
full-scale functioning of a national Waqf system.


Participants discussed the potential elements of a dedicated
Waqf law, including protection of the rights of Waqf founders and
beneficiaries; options for a specialized independent body to
oversee, manage, and coordinate Waqf-related matters; and
appropriate financial and tax incentives. They also exchanged views
on taxation, public awareness, and capacity development, and
highlighted Waqf's potential contribution to poverty reduction,
human capital development, and access to essential services.


Through the technical assistance initiative, IsDBI will continue
to support Uzbekistan's efforts to establish a transparent,
sustainable, and nationally aligned Waqf ecosystem.