During operational search activities conducted jointly by the State Security Service and the Tashkent Department of Internal Affairs, the activities of an individual trading cryptocurrency assets without the appropriate license were suppressed.
Similar stories
Expert explains the possibilities of Islamic banking for business and the public
Associate Professor Shuhrat Bobokhojaev of the Institute of Joint Interregional Practical Technical Qualifications of Belarus and Uzbekistan told Sputnik Uzbekistan correspondent that the introduction of Islamic banking in Uzbekistan can contribute to attracting foreign investment, expanding the use of financial resources, and strengthening competition between banks.
According to the expert, Islamic banking provides an opportunity to attract additional resources from countries where such a system has existed for a long time. He noted that foreign banks can open branches in Uzbekistan to finance the population and entrepreneurs.
Unlike the traditional banking system, receiving interest on loans is prohibited in Islamic banking. Financing is carried out based on the principles of partnership, joint projects, and profit sharing. Furthermore, such banks do not invest in sectors that contradict Sharia, including the production of gambling and alcoholic beverages.
Bobokhojaev believes that the new financial system may be of interest not only to Muslims but also to entrepreneurs who are looking for alternative ways to raise funds for the development of their businesses.
The expert emphasized that the more sources of financing there are, the broader the opportunities become for the population and businesses. This, in turn, strengthens competition in the banking sector and promotes the development of areas such as tourism, services, agriculture, and industry.
He also added that the development of Islamic banking can stimulate the inflow of foreign direct investment into Uzbekistan and encourage the creation of new enterprises.
It should be recalled that on October 23, the Central Bank of Uzbekistan issued the first license for the operation of an Islamic bank in the country, which was granted the right to 'Open bank'.
Japan plans to use artificial intelligence to counter cyberattacks
The Japanese government is forming an artificial intelligence group to check system security and model cyberattacks caused by serious vulnerabilities in the PHP programming language.