(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, October 27. Deputy Minister of Investment, Industry, and Trade of Uzbekistan Shokhrukh Gulamov held a meeting with a delegation from Kuwait's Noor Financial Investment Company, led by Senior Vice President for Alternative Investments Abdullah Al-Khouli, to discuss the development of Islamic banking and the potential establishment of a new Islamic bank in Uzbekistan, Trend reports.

Throughout the discussions, the parties engaged in a dialogue regarding the enhancement of synergies in the financial sector, industrial collaboration, energy initiatives, and infrastructural development, alongside exploring Kuwait's potential involvement in significant investment ventures throughout Uzbekistan. The Kuwaiti delegation lauded the nation's continuous economic transformation and articulated a willingness to engage proactively in its investment ventures.

Subsequent to the convening, both parties reiterated their reciprocal commitment to fortifying the alliance and concurred on the necessity of ongoing pragmatic collaboration.

Concurrently, in September, the Legislative Chamber of the Oliy Majlis of Uzbekistan initiated a comprehensive examination of a proposed legislative framework designed to integrate Islamic banking paradigms into the overarching national financial architecture. This initiative constitutes a strategic component of the government's overarching framework aimed at enhancing the accessibility of financial services for both individuals and enterprises, fostering foreign investment influx, and developing innovative mechanisms to bolster economic advancement.

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