TASHKENT, Uzbekistan, May 14. Uzbekistan and Indonesia have evaluated prospects for collaboration in the domains of Islamic finance and pilgrimage tourism, TurkicWorld reports via the Uzbek Ministry of Investment, Industry and Trade.
The discussions took place during a meeting between Ilzat Kasimov, Deputy Minister of Investment, Industry, and Trade of Uzbekistan, and Indra Gunawan, Chief Investment Officer of the Indonesian Hajj Financial Management Agency.
During the negotiations, the parties examined opportunities to enhance trade and investment relations, with particular emphasis on the adoption of Islamic financing mechanisms in Uzbekistan. The discussion included the development of Sharia-compliant financial instruments, such as sukuk, murabaha, and ijara.
A key topic of the dialogue was the advancement of the "halal" ecosystem and pilgrimage tourism. In this context, the parties considered potential projects for the construction of hotel infrastructure in Samarkand, Bukhara, and Tashkent, as well as the initiation of joint ventures targeting Southeast Asian markets.
The Indonesian Hajj Financial Management Agency is a state institution responsible for managing pilgrim funds in accordance with Sharia principles, specializing in the Hajj ecosystem through real estate and Sharia-compliant assets.
Following the meeting, the Indonesian delegation was invited to participate in the forthcoming 5th Tashkent International Investment Forum to further deliberate on these strategic initiatives.
