TURKIY DAVLATLAR MINTAQAVIY IQTISODIY INTEGRATSIYASINI RIVOJLANTIRISHDA ISLOMIY MOLIYA IMKONIYATLARI: INSTITUTSIONAL TO‘SIQLAR VA RIVOJLANISH YO‘NALISHLARI

The aim of this study is to comparatively assess the level of Islamic finance development in the Turkic states Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan, Azerbaijan and Turkey and to substantiate directions for using it as an instrument for deepening regional economic integration. The study applies historical-evolutionary, comparative-institutional and documentary analysis, secondary statistical analysis and composite index construction. The findings show that in Turkic States financial integration lags behind trade integration, and cross-border Islamic financing is channelled mainly through the Islamic Development Bank Group. Common institutional barriers are identified in the legal framework, tax neutrality, Shariah governance, liquidity instruments, human capital and statistics. To overcome them, a “Turkic States Islamic Finance Ecosystem” model and a Turkic States Islamic Finance Integration Index are proposed

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