Since the 1970s, Islamic banking and finance has gained increasing purchase in the Middle East and Southeast Asia. According to some estimates, Islamic financial operations have increased by 150% since 2006 and the sector as a whole is growing 50% faster than its conventional counterpart (Evening Standard, 09.07.2017). However, Islamic banking has been slow to gain momentum in Central Asia, in spite of its sizeable Muslim population. Why this is the case can be explained by a number of structural and political factors, on the basis of which the future of the development of Islamic banking in the region can be forecast.