Uzbekistan Launches Sharia-Compliant SME Financing at TIIF 2025  

At the Tashkent International Investment Forum (TIIF 2025), Uzbekistan unveiled a groundbreaking Sharia-compliant financing initiative for small businesses. The ethical, interest-free model is led by the Economic Empowerment Fund of Uzbekistan (EEFU) in partnership with SEAF, Islamic Development Bank, Saudi Development Fund, and Uzbekistan’s Reconstruction and Development Fund.  

The project, launched in 2021, is now in final approval stages, with $100 mln allocated for the first phase. The funds will test new financial tools and build investor confidence.  

Olim Yusupov, Deputy Executive Director of Uzbekistan’s Reconstruction and Development Fund, stated: «Uzbekistan has strong economic prospects. We foresee expanding the fund to $500 mln in the near future.»

The move aims to boost SME growth while aligning with Islamic finance principles. If successful, it could position Uzbekistan as a regional hub for ethical investment.