O‘ZBEKISTONDA ISLOMIY MOLIYALASHTIRISHNING RIVOJLANISH ISTIQBOLLARI VA SAMARADORLIGINI BAHOLASH MEZONLARI

The article analyses the financial performance of Uzbekistan’s commercial banks in 2025–2026 using official Central Bank statistics and examines the current state of Islamic financing in the country. Growth of assets, loans, deposits and capital, as well as ROA, ROE, net interest margin, asset quality and liquidity indicators, are calculated. Islamic financing is found to be provided only by microfinance organizations so far, while licensing of commercial banks has just begun. Drawing on the Sharia Maqasid Index, a five-direction set of evaluation criteria for Uzbekistan is proposed. Comparison with Malaysia, Saudi Arabia and Kyrgyzstan shows high profitability in Uzbekistan but weaker asset quality and a higher loan-to-deposit ratio