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.
