This thesis analyzes the organization of Islamic securities (sukuk) circulation within the framework of Uzbekistan's new draft Law "On the Capital Market". It examines the sovereign sukuk program announced by the President in 2026, the Central Bank's plans to adopt Sharia standards, and measures to reform capital market infrastructure. A comparative analysis is conducted with Malaysia's experience in developing its Islamic capital market, covering sukuk types (musharakah, ijarah, murabahah, agency), Sharia governance systems, and investor base expansion. Based on the findings, practical recommendations are developed for improving the organization of Islamic securities circulation in Uzbekistan
Islamic Finance Council
Islamic finance
Malaysian experience
Sharia standards
capital market
investors
securities
sukuk