Best scientific research 2022

Key words: mechanism,nisab, takaful, insurance, Islamic finance, garar, maysir, 
insurance fund, insurance operator.
 
INTRODUCTION 
Islamic insurance can be implemented in various forms, including takaful, waqf, 
mutual funds and mutual insurance. If we consider takaful, which is the basis of Islamic 
insurance, "takaful" is an Arabic word that means "mutual guarantee" and is provided by the 
legislation of Uzbekistan, citizens and organizations By pooling certain funds, it corresponds 
to the double insurance that can be implemented. This type of insurance is also used in 
some countries in the form of a waqf. From this, we can understand the importance of paying 
attention not only to the name of a financial product or system, but also to its form and 
principles. Actually, Islam is a guide that leads to happiness and the right path through the 
ups and downs of the world during human life. God made the earth a place for man and 
allowed him to create various relationships, especially economic and financial relationships. 

---

BEST SCIENTIFIC
RESEARCH - 2022 
78 
He gave nature to every human being and made him eager for innovation. But along with 
them, a person also has the qualities of greed and malice, bad deeds and cruelty. Islam 
established certain moral and social boundaries with justice and defined economic and 
financial principles that prevent injustice in the use of material wealth. Adherence to these 
principles will help a person to find a halal sustenance on earth and to find God's approval 
in 
the 
hereafter. 
Islamic 
economics 
is 
based 
on 
the 
principles 
of 
"permissible/goodness/correctness/goodness", which means that it defines what 
"goodness" is and calls upon people to acquire this "goodness" in the most efficient and 
beneficial ways, subject to certain limitations. Thus, Islamic economics guarantees personal 
freedom, private property, entrepreneurial spirit, the duty of financial gain, and a direct 
relationship between effort and reward.On the other hand, Islamic economics introduces 
certain moral filters that serve to ensure social justice at various levels.