Located on the ancient Silk Road crossing Central Asia and South Asia, Uzbekistan has a deep historical legacy and rich culture.

Over the past six years, Uzbekistan has engaged in a reform agenda and has been a success both in economics and foreign direct investment. 

Despite impressive growth, the country faces domestic challenges as well as broader risks including the impact from the Russia-Ukraine conflict, a faltering global economy and increasing geopolitical risk.

In our third episode, we spoke to Odilbek Isakov, the former Deputy Finance Minister from 2019 to 2023. Prior to this, he served as an Advisor to the Minister and Head of the newly established Debt Management Office in September 2018.

He is currently the CEO and Co-Founder of Infrasia Capital, an advisory firm based in London and Tashkent focusing on infrastructure projects in Uzbekistan and other frontier markets.

During the conversation we touched on topics including:

• Key reforms since 2017
• Uzbekistan's journey in the international capital markets
• The potential of Islamic finance and sukuk in Uzbekistan
• FDI levels and opportunities
• How Tashkent manages geopolitics
•  Emerging climate risks in Uzbekistan

Intro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Despite possessing 7% of the world's oil reserves and housing one of the largest sovereign wealth funds globally, the spotlight on Kuwait often dims in comparison to the UAE, Saudi Arabia, or Qatar.

In our second episode, we had a conversation with Issam Al Tawari, a Kuwaiti banker and academic. He has a wealth of experience in debt markets, financial consulting, and venture capital across the GCC.

Currently serving as Managing Partner at Newbury Economic Consultancy, a Kuwait-based debt capital markets advisory, Issam provided insightful perspectives on a range of topics, including:

• Kuwait's political system: A historical overview and analysis of the current landscape
• Economic diversification efforts in Kuwait
• Exploring the background and challenges associated with the proposed public debt law
• Urgently needed reforms, including insights on the implementation of VAT
• Assessing climate risks facing Kuwait
• Issam's outlook for Kuwait as we approach 2024

Connect with Issam:

• LinkedIn: Issam's LinkedIn
• Twitter: Issam's Twitter

The global Islamic finance industry is set to reach $4 trillion by 2026, according to some studies.

In our pilot episode we deep dive into the history of Islamic finance and look at its practice in the real world.

Ryan Calder is assistant professor of sociology and director of the Program in Islamic Studies at Johns Hopkins University. His first book, The Paradox of Islamic Finance: How Shariah Scholars Reconcile Religion and Capitalism, will be published by Princeton University Press in May 2024.

In this episode we discuss:

• Ryan's background and interest in Islamic finance
• Ryan's research on Islamic finance and economics
• Define what Islamic finance is and what are the core principles
• The political economy of the Islamic finance
• Whether Islamic finance products are really different from conventional finance
• What the future holds for the Islamic finance industry

Note-This conversation was originally recorded in 2022.