Abstract. The article analyzes the development trends of Islamic finance, widely used in the global financial market and global industry. The issues of attracting Islamic financial resources and investments for the development of the national economy, strengthening and modernizing production capacities, attracting domestic and foreign investments, introducing new technologies in production are considered. The history of the development of Islamic finance is described, the role of the Islamic banking system in the banking system of the world and the leading countries in this area is assessed. The possibilities for the development of Islamic finance in Uzbekistan and the tasks that need to be solved in this direction are determined.