Uzbekistan Issues Concept Note for the Development of Regulatory Framework to Issue Plain Vanilla Sukuk and Green Sukuk

The Republic of Uzbekistan (Uzbekistan) has issued a concept note to facilitate and enable the development of a legal and regulatory framework for the issuance of Plain Vanilla Sukuk and Green Sukuk, both in the domestic and international market, as announced by the Ministry of Finance (MoF) on the 27th of June 2022.

Why it Matters?

Due to the current state of the global Sukuk markets and the underlying transaction mechanics of Shariah-compliant funding structures, several legal and regulatory features must be present in the legal system for Sukuk issuances to take place domestically and to raise financing through international sukuk issuances. The note is designed to assist the MoF with the identification of legal matters that must be resolved to ena...