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DOI: Methodological Bases Of Islamic Insurance
Umidjon G'ayratjonovich Imomov , PhD, General Director Of “Trust Insurance” LLC, UzbekistanAbstract
This article discusses in detail the methodological foundations of Islamic insurance. An Islamic bank is “a commercial organization that opens and maintains bank accounts in accordance with Islamic law, makes payments, raises funds for deposits, finances individuals and legal entities, and provides other banking services”. Sharia (Islamic law) requires these transactions to be legal. That is, permission from the Shari’ah production projects that are safe for the given society finances and pays or receives interest on any transactions prohibits.
Keywords
Detail, methodological foundations, Islamic insurance, Islamic bank, commercial organization, bank accounts, Islamic law, payments, banking services, finances individuals, legal entities
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