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Kyrgyzstan, a mostly Muslim country of Central Asia and an OIC member since 1992, is one of the region's most active Islamic finance markets. Islamic banking is allowed under the national banking law, and in June 2026 President Sadyr Japarov signed amendments to the Civil Code to clarify murabaha, musharakah and diminishing musharakah, so that banks can sell goods to clients in instalments.
The country has included Islamic finance in its development plans for 2025–2030, and the Cabinet of Ministers has approved requirements for takaful, Islamic insurance. This guide lists the institutions behind each part, with their pages on Wasabih.
Yes. Islamic banks and Islamic windows operate under the national banking law, and 2026 amendments to the Civil Code clarified Islamic contracts such as murabaha and musharakah.
A law signed in June 2026 amended the Civil Code to clarify murabaha, musharakah and diminishing musharakah, letting banks sell goods, including property they already own, to clients in instalments.
The Cabinet of Ministers has approved requirements for takaful, Islamic insurance, as part of the country's plans to develop Islamic finance.
Still small: Fitch expects Islamic banks to hold less than 1.5% of banking assets in Kyrgyzstan, Kazakhstan and Tajikistan by the end of 2026, though Kyrgyzstan and Kazakhstan are expected to lead regional growth.
Kyrgyzstan has been a member state of the Organisation of Islamic Cooperation since 1992.
Part of the Halal economy in Kyrgyzstan?
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