Paper Contents
Abstract
The growing global relevance of Islamic finance has prompted increasing interest in its integration within non-Islamic, secular economies. This study aims to develop a robust theoretical framework to guide the introduction of Islamic finance in such contexts, using Uzbekistan a secular country undergoing institutional and economic transition as a case study. A qualitative, theory-driven conceptual research design was adopted, drawing on secondary sources such as legislative documents, central bank reports, Shariah governance standards, and global regulatory guidelines. The research highlights key legal and institutional barriers, including civil, tax, and banking laws that conflict with Islamic financial principles. To address these, the study proposes a framework grounded in institutional theory, path dependency, comparative advantage, and dual banking models, illustrating how their integration can inform the creation of a hybrid financial system. The framework offers practical guidance for policymakers seeking to align Islamic finance with existing secular legal structures while fostering financial inclusion and systemic resilience.Keywords: Islamic finance, Tax laws, Institutional theory, regulations, Uzbekistan, Secular Economy.
Copyright
Copyright © 2025 Abdul Jalil Mahama. This is an open access article distributed under the Creative Commons Attribution License.
