Finasia Capital CEO Highlights Role of Islamic Finance in Poverty Reduction at International Forum in Uzbekistan
Namangan, Uzbekistan – September 19, 2025 – The CEO of Finasia Capital, Mr. Odilbek Isakov, took part as a featured speaker in the high-level panel session titled "The Role of Islamic Finance in Poverty Reduction: New Opportunities and Solutions" at the III International Poverty Reduction Forum, held in Namangan, Uzbekistan on September 17–18, 2025.
This year's forum, held under the theme "Road to Prosperity", brought together leading global development experts, financial institutions, policymakers, and international organizations to discuss strategies for sustainable poverty reduction. The event was opened by President Shavkat Mirziyoyev, who emphasized the country's achievements in cutting poverty from 17% to 8.9% in recent years, with an ambitious goal to eliminate absolute poverty by 2030.
Focus on Islamic Finance as a Tool for Economic Inclusion
The session on Islamic finance, moderated by Anas Fayyad Qarman, Deputy Resident Representative of UNDP Uzbekistan, gathered top experts from Kazakhstan, Malaysia, Pakistan, and Indonesia. Mr. Isakov represented Finasia Capital and shared his insights on how Sharia-compliant financial instruments can serve as powerful tools for inclusive economic development.
“Islamic finance is uniquely positioned to support social equity and shared prosperity through instruments like zakat, waqf, and profit-and-loss sharing models,”“These mechanisms not only align with ethical finance principles but also offer practical solutions to unlock capital for underserved communities.”
said Mr. Isakov.
He further noted that the integration of Islamic finance into Uzbekistan’s broader poverty reduction strategy could expand access to financing for low-income entrepreneurs, enabling them to start and grow businesses without relying on conventional interest-bearing loans.
Supporting the New Uzbekistan Vision
Mr. Isakov’s participation comes at a time when Uzbekistan is undergoing rapid economic reform, placing poverty alleviation at the center of its New Uzbekistan Development Strategy. The strategy is backed by national initiatives like “From Poverty to Prosperity” and significant support from development partners such as the Islamic Development Bank, the Asian Development Bank, and the UN.
During the forum, participants explored ways Islamic finance could complement traditional funding sources and social safety nets, while promoting financial inclusion, ethical investing, and sustainable livelihoods. Case studies from across the Muslim world were shared to showcase the potential of Islamic financial models in improving access to capital and reducing dependency.