Islamic insurance legal regulation of takoful issues

CONCLUSION
Researching scientific approaches to the essence of Islamic finance and its modern financial instruments, as well as revealing the scientific basis of takaful working mechanism and typology are among the current issues. It is necessary to study the meaning of takoful as an economic category and its role in the insurance market based on today's legislation. Assessing the development and modern state of takoful in the insurance market; justifying the effect of takoful financial instrument on economic development through econometric analysis; in the international experience, the issues of researching the advanced mechanism of introducing takoful and determining its specific features should be highlighted. Analysis of the organizational and legal basis of introducing takoful into the economy of Uzbekistan and scientifically based proposals and recommendations on the introduction and development of takoful into the economy of Uzbekistan were developed. In Uzbekistan, it is proposed to use the takaful instrument based on the principles of musharak, mudaraba, murabaha, salam, exception and rental agreements. It is necessary to develop the constructive stages of the introduction of Takoful as a new financial instrument, reflecting the priorities based on the best foreign experience.


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