DISTINCTIVE FEATURES OF MODERN ISLAMIC BANKING PRODUCTS COMPARED WITH CONVENTIONAL BANKING SERVICES

Authors

  • Scientific Research Center "Scientific Foundations and Problems of the Development of the Economy of Uzbekistan" under Tashkent State University of Economics

DOI:

https://doi.org/10.60078/3060-4842-2026-vol3-iss4-pp24-32

Abstract

This article examines the distinctive features of modern Islamic banking products compared with conventional banking services. It provides a comparative analysis of income generation, risk-sharing mechanisms, and links to real assets in murabahah, ijarah, musharakah, mudarabah, sukuk, and takaful products. Conclusions are also developed regarding the expansion of Islamic banking products in Uzbekistan.

Keywords:

islamic banking banking products murabahah ijarah musharakah mudarabah sukuk conventional banking services

References

Al Hammadi, M., Jimber-Del Río, J.A., Ochoa-Rico, M.S., Arencibia Montero, O. and Vergara-Romero, A. (2024). Risk management in Islamic banking: The impact of financial technologies through empirical insights from the UAE. Risks, 12(2), Article 17, pp. 1–25. doi:10.3390/risks12020017.

Gök, R., Hammoudeh, S., Ajmi, A.N. and Balcilar, M. (2025). Return spillovers between Islamic and conventional banking rates: Evidence from emerging Islamic countries. Borsa Istanbul Review, 25(5), pp. 972–998. doi:10.1016/j.bir.2025.05.012.

Hanif, M. (2024). Performance evaluation of Islamic banking services industry: Evidence from GCC. Journal of Risk and Financial Management, 17(11), Article 523, pp. 1–16. doi:10.3390/jrfm17110523.

Idrees, M.A. and Ullah, S. (2024). Comparative analysis of FinTech adoption among Islamic and conventional banking users with moderating effect of education level: A UTAUT2 perspective. Journal of Open Innovation: Technology, Market, and Complexity, 10(3), Article 100343. doi:10.1016/j.joitmc.2024.100343.

Islamic Corporation for the Development of the Private Sector and London Stock Exchange Group (ICD–LSEG) (2024). Islamic Finance Development Report 2024: From Niche to Norm. Jeddah and London: ICD–LSEG.

Islamic Financial Services Board (IFSB) (2025). Islamic Financial Services Industry Stability Report 2025: Navigating Shallow Waters—Addressing Structural Vulnerabilities and Shoring Up Resilience to Global Shocks. Kuala Lumpur: IFSB, pp. 1–69.

Meero, A. (2025). Islamic vs. conventional banking in the age of FinTech and AI: Evolving business models, efficiency, and stability (2020–2024). International Journal of Financial Studies, 13(3), Article 148, pp. 1–18. doi:10.3390/ijfs13030148.

Péran, T. and Sdiri, H. (2024). Comparing the performance of Qatari banks: Islamic versus conventional, amidst major shocks. Finance Research Letters, 59, Article 104776, pp. 1–9. doi:10.1016/j.frl.2023.104776.

Downloads

Published

How to Cite

Voxidov , O. (2026). DISTINCTIVE FEATURES OF MODERN ISLAMIC BANKING PRODUCTS COMPARED WITH CONVENTIONAL BANKING SERVICES. Advanced Economics and Pedagogical Technologies, 3(4), 24-32. https://doi.org/10.60078/3060-4842-2026-vol3-iss4-pp24-32