Seminar on Sukuk securities takes place in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- The Agency for Development of the Capital Market of the Republic of Uzbekistan continues to develop an initiative to introduce Sukuk securities as an alternative tool to attract investment.

With the assistance of the Islamic Development Bank (IDB) Group and the support of the United Nations Development Program (UNDP), the Agency organized a two-day online training on the implementation of Sukuk securities for relevant ministries and departments, as well as educational institutions of Uzbekistan.

The main specialists of the Islamic Finance Consulting and Technical Assistance Department of the IDB - Abozer Magzub Mohamed and Syed Fayk Najib made presentations on the varieties and details of the implementation of Sukuk, as well as its regulatory framework, covering the main international principles that govern the regulatory and supervisory bodies such as the International Organization of Securities Commissions, the Bank for International Settlements and the International Association of Insurance Supervisors in developing their regulatory regimes and practices.

At the end of the training, the participants discussed the logistics of introducing Sukuk securities in Uzbekistan, and also considered the possibilities of introducing its green component as a way of investment for long-term environmental projects.