IMPROVING THE IMPLEMENTATION OF ISLAMIC BANKING SERVICES IN COMMERCIAL BANKS.

Abstract

The sharp increase in competition in the global economic space is creating
the basis for a rapid increase in the volume of investments directed to
promising sectors and industries. As a result of this trend, the need for
effective management of capital flows and the use of Islamic financial
instruments in financing investment activities is increasing. Analyses show
that by 2024, the total assets of the Islamic financial system are expected to
reach 3.96 trillion US dollars. As a result, despite the global economic
restrictions that arose during the COVID period, the stimulating policies of
governments and the high demand for Islamic financial products have
further strengthened the position of the sector in global financial markets.
As a result, the Islamic financial sector has not only maintained stability, but
also entered a phase of rapid development, capturing new market segments
globally (World Investment Report, 2021). At the same time, the experience
of the global pandemic has accelerated the transformation of the modern financial system and made the need to diversify national financial markets
by introducing new principles, mechanisms and tools an even more pressing
issue.
The article substantiates the possibilities of improving the implementation
of Islamic banking services in the country's commercial banks.