This study proposes a novel hybrid Islamic microfinance model integrating Zakat, Waqf, and commercial finance mechanisms to address poverty reduction in Uzbekistan. Drawing from maqasid al-shariah principles and sustainable development goals (SDGs), we develop a theoretical framework that combines the redistributive function of Zakat, the endowment sustainability of Waqf, and the scalability of commercial Islamic finance. Our methodology employs a mixed-methods approach, analyzing regulatory frameworks, conducting stakeholder interviews, and developing financial projections for the proposed model. The results demonstrate that a hybrid model could potentially serve 150,000 low-income households within five years, with projected poverty reduction rates of 35-40% among beneficiaries. Four comprehensive tables present implementation phases, financial projections, risk mitigation strategies, and comparative analysis with conventional microfinance. The discussion reveals that successful implementation requires regulatory reforms, institutional capacity building, and digital infrastructure development. We conclude that this integrated approach offers a culturally appropriate and financially sustainable solution for poverty alleviation in Uzbekistan, contributing to both Islamic finance literature and development economics. The model's replicability across Central Asian contexts enhances its theoretical and practical significance.

Islamic microfinance, Waqf, poverty reduction

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