Activation of Islamic Insurance in Uzbekistan

Abstract

Islamic insurance, also known as Takaful, is a type of insurance that complies with Shariah law principles. It operates on the basis of mutual cooperation and shared responsibility among policyholders, with the aim of providing protection against unforeseen events such as accidents, illnesses, or natural disasters. Islamic insurance has been growing in popularity in recent years, with many countries around the world introducing regulations to support the industry. Uzbekistan is one such country that has recently made moves towards the activation of Islamic insurance.