Formation of institutional basics of takaful in Russia

Abstract

The purpose of the research is to study the principles of the structure and the features of Islamic insurance (takaful ) in order to assess the possibility of its rapid adaptation in Russia. The relevance of this research is confirmed by the need to attract investors to the Russian economy from Muslim countries and to develop for that purpose Muslim financial institutions, including takaful. The methodological basis of the study is represented by the methods of system analysis, statistical and economic analysis. The possibility of adapting the basic models of general and family takaful to the insurance system of Russia was found, with a minimum adjustment of certain provisions of the Federal Act No. 286-FZ dated November 29, 2007 "On Mutual Insurance". Studies of the regional demand for takaful services have been carried out, confirming public interest in takaful in regions with Muslim population and favorable prospects for its development. The development of general and family takaful in the country expands the organizational and legal forms of business entities that operate in the insurance market of Russia, which is in tune with the trends in the development of the global insurance services market. This will also lead to an expansion of the range of insurance products, due to the inclusion of insurance of non-payment risks after an insured event, which will also affect the stabilization in the society