CHALLENGES IN ECONOMIC ACTIVITIES DUE TO THE PANDEMIC & ISLAMIC ECONOMIC AND SOCIAL FINANCE SOLUTIONS IN UZBEKISTAN
Keywords:
pandemic, crisis, Uzbekistan economy, Islamic social finance, zakah, waqf, qard al-hasan, profit-loss sharing, Islamic fin-tech.Abstract
The COVID-19 pandemic brought about unprecedented disruptions to global economies, particularly affecting developing nations like Uzbekistan. Faced with rising unemployment, poverty, and public debt, Uzbekistan’s recovery has been slow despite government interventions. This paper explores how Islamic economic principles and social finance instruments, such as zakah, waqf, qard al-hasan, and Islamic FinTech, could serve as viable solutions to help alleviate the socio-economic challenges posed by the pandemic. By examining the economic impacts of COVID-19 on Uzbekistan and applying the principles of Islamic finance, this paper provides a framework for sustainable recovery and resilience building.
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