GENERAL CHARACTERISTICS OF INSURANCE INSTITUTION IN ISLAMIC LEGISLATION

Abstract

This article examines the development of insurance in the Muslim law. First, the idea of insurance in pre-Islamic times was studied, which was part of the Bedouin custom. Secondly, the”Common Assessment” and “General Statistics”. The main goal of the research is the disclosure of the concept of insurance in Islamic law, the definition of a place in Islamic law for Islamic law. The methodological basis of the article was the works of foreign and domestic scholars in the field of Islamic law and Islamic insurance. The scientific and practical significance of the work lies in the fact that its results can serve as a recommendation for the introduction of Islamic insurance institutions in the legal system of the state. In addition, the significance of the work is to use all the results in the development and practical activities of Islamic insurance organizations. Also, in the work were uncovered three key elements that are forbidden in Islamic insurance system.
Key words: Takaful, Islamic law, insurance legislation.