MUSHARAKA AND MUDARABA: ISLAMIC FINANCIAL INSTRUMENTS AND THEIR INTEGRATION INTO A GENERAL PARTNERSHIP AGREEMENT UNDER THE LEGISLATION OF UZBEKISTAN

Authors

  • Fayzullo Khudoyorov

Keywords:

Islamic finance, musharaka, mudharaba, instruments, Shariah-compliant instruments, general agreement of the company, legal framework, Uzbek legislation, financial integration, business contracts, shariah principles, ethical finance, regulatory compliance, financial instruments, legal compliance, financial pr.

Abstract

This article examines the integration of Musharaka and Mudaraba, the two main financial instruments of Islam, into the contract of customary partnership in the legal framework of Uzbekistan. It examines in detail the legal aspects and explores how Shariah-compliant mechanisms can fit into and integrate with existing business transactions and regulations in Uzbekistan. The study explores the principles, mechanisms and practical implications of Musharakah (partnership) and Mudaraba (profit sharing) within a company's master company agreement, emphasizing their flexibility and relevance to the country's legal and financial landscape of the country. The aim of the study is to harmonize Islamic finance principles with the legal framework of Uzbekistan, providing recommendations or considerations on the integration of these ethical financial instruments for stakeholders, regulators and policy makers.

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Published

2023-12-02