APPLICATION OF ISLAMIC FINANCIAL INSTRUMENTS IN THE INSURANCE MARKET
Keywords:
Islamic finance, takaful, insurance, mudaraba, wakala, waqf, interest-free insurance, Islamic financial instruments, mutual assistance, halal investments, Islamic insurance products.Abstract
This article examines the application of Islamic financial instruments in the insurance market. The article provides a detailed explanation of the essence of the takaful system, its differences from conventional insurance, historical development, main models, and practical aspects. The article analyzes takaful models such as mudaraba, wakala, waqf, and hybrid models, and demonstrates their practical application through examples. Furthermore, the article highlights the specific features of various takaful products, including vehicle, property, health, education, pension, and life takaful. Based on statistical data, the article describes the current state and future prospects of the global takaful market and analyzes the possibilities of implementing takaful in Uzbekistan.
Downloads
Published
Issue
Section
How to Cite
Similar Articles
- Jasmina Jasurоvna Bakhtiyorоva, OPPORTUNITIES FOR THE DEVELOPMENT OF ISLAMIC FINANCE IN UZBEKISTAN , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 3 (2025): GER
- Humoyun Haydarov, ANALYSIS OF THE COOPERATION RELATIONS BETWEEN THE ISLAMIC DEVELOPMENT BANK AND UZBEKISTAN , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 4 (2025): GER
- Otabek Olimovich Muslimov, Abrorjon Husanugli Azamov, MORTGAGE LENDING PRACTICE IN COMMERCIAL BANKS , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 3 (2025): GER
- Shaxnoza Atakuzieva, THE ROLE OF INTERNATIONAL FINANCIAL INSTITUTIONS IN ECONOMIC DEVELOPMENT , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 1 (2025): GER
- Samuel Harris, UNDERSTANDING BEHAVIORAL ECONOMICS IN FINANCE: THE IMPACT OF HUMAN BIASES ON ECONOMIC DECISION-MAKING , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 1 (2025): GER
- Sattarova Gulshan Mukhiddinovna, IMPROVING THE ASSESSMENT OF FINANCIAL STABILITY OF COMMERCIAL BANKS IN THE GREEN ECONOMY BASED ON FOREIGN EXPERIENCE , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 3 (2025): GER
- Rakhim Rajabbayevich Matniyazov, DEVELOPMENT OF DIGITAL PLATFORMS AND PLATFORM , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 1 (2025): GER
- Khamdamov Shavkat Komilovich, IMPROVING THE FINANCIAL MECHANISM FOR POVERTY REDUCTION AND SOCIAL PROTECTION OF THE POPULATION , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 4 (2025): GER
- Rustamova Dilsabokhon Djuraevna, BUSINESS AND ENTREPRENEURSHIP IN THE GREEN ECONOMY IN UZBEKISTAN , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 3 (2025): GER
- Asimova Feruza Abdusattorovna, Zagidullina Kamila Rafailovna, Sayfutdinova Nigina Furkatovna, ORGANIZING STRATEGIC MANAGEMENT TO ENHANCE THE EFFECTIVENESS OF INNOVATION ACTIVITIES IN INDUSTRIAL ENTERPRISES , Global Economic Review: Journal of Economics, Policy, and Business Development: Vol. 1 No. 4 (2025): GER
You may also start an advanced similarity search for this article.