Development of Takaful in the Russian insurance system

2021 ◽  
Vol 27 (12) ◽  
pp. 2698-2718
Author(s):  
Anna N. ZHILKINA ◽  
Mahmud-Huseyn R. ORUSBIEV
Keyword(s):  
Islamic Law ◽  
Insurance Market ◽  
Positive Trend ◽  
Insurance System ◽  
Significant Volume ◽  
Development Institutions ◽  
Logical Method ◽  
Islamic Faith ◽  
Personal Insurance ◽  
Industrial Groups

Subject. We consider the specifics and trends in takaful development in the conditions of the modern Russian insurance market. Objectives. The aim is to show the possibilities of takaful in the Russian insurance system, provide a brief analysis of limitations, problems and prospects for its functioning Methods. The study rests on analysis, comparison, induction and deduction, logical method, and others. Results. The need for the development of takaful in our country resulted from the fact that there is an increase in the number of Muslims, making up more than 20 percent of the population. This is indicative of prospects for growth. Furthermore, a positive trend contributing to the development of takaful is the significant volume of the property and personal insurance market in Russia, as these types of insurance are implemented in takaful in accordance with Sharia, or Islamic law. The findings can be useful for ministries and departments, management of insurance organizations and development institutions, investment, microfinance, leasing and consulting companies, financial and industrial groups, and large banks interested in providing insurance services and attracting or placing capital in accordance with Islamic financial principles. Conclusions. Thanks to takaful, the individuals of the Islamic faith have the opportunity to meet such financial needs as insurance, thereby complementing the insurance market as a whole.

CUSTOMS ADMINISTRATIONS IN A GLOBALIZING WORLD: NEED FOR INTERACTION

2020 ◽  
Author(s):  
L. E. Puinko
Keyword(s):  
Insurance Market ◽  
Standard Of Living ◽  
Insurance Companies ◽  
Globalizing World ◽  
Personal Insurance

Insurance products in the field of personal insurance, currently offered by insurance companies are diverse. In the Khabarovsk territory, the population is wary of voluntary personal insurance, including due to the level of income and standard of living. One of the directions of development of the insurance market is the integration of insurance products into the reserve financial savings of citizens, and there are prerequisites for this development in the region

scholarly journals The structure of the deferred income tax and its influence on indicators describing the economic performance of commercial insurance companies

2007 ◽  
Vol 55 (3) ◽  
pp. 143-156 ◽  
Author(s):  
Hana Bohušová ◽  
Eva Vávrová
Keyword(s):  
Structure Analysis ◽  
Economic Performance ◽  
Income Tax ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Tax Rate ◽  
Commercial Insurance ◽  
Insurance System

The main objective of this paper is presentation of findings gathered through an analysis of items that cause deferred income tax in commercial insurance companies in the Czech insurance market. The evaluation of the subject is focused in accordance with the concept of the presented paper as regards structure analysis of the deferred tax, working with a selection of insurers – members of the Czech Insurance Association. We study, document and evaluate the influence of the deferred income tax being related with the given available income, as well as related to the effective income tax rate in a commercial insurance company. This analysis concerns the evaluation of the present-day degree of transformation and approximation of the Czech system of insurance in the process of harmonization with the European insurance system.

scholarly journals COMPARATIVE ANALYSIS OF INSURANCE IN UKRAINE

2020 ◽  
Vol 1 (4(106)) ◽  
pp. 102-109
Author(s):  
І. В. Ліченко
Keyword(s):  
European Union ◽  
Comparative Analysis ◽  
Consumer Demand ◽  
System Development ◽  
Well Being ◽  
State Regulation ◽  
Insurance Market ◽  
Insurance Companies ◽  
The European Union ◽  
Insurance System

The relevance of the article is that bringing Ukrainian legislation in line with the insurance legislation of the European Union is one of the priority areas in the economy of Ukraine. The process of adaptation is a complex process given the large volume of regulations. The analysis of the comparative insurance process is the initial stage for determining the methods for implementing the norms of international cooperation at the domestic level. Insurance during the crisis (covid-19) and other negative political and economic events, the decline in the material well-being of the population has created a problem of significant reduction in consumer demand for insurance services. The problem of supporting consumer demand and the competitiveness of insurance companies is especially relevant today. The article provides a comparative comparative analysis of Ukrainian insurance legislation, the purpose of which is to identify regulatory relationships based on a comparison of national legislation and international regulations of one or different historical periods. It is concluded that significant differences in the parameters and proportions of the domestic market in accordance with the standards of the European insurance market indicate that on the path to European integration our country faces complex long-term challenges for the development of the domestic insurance system. In the EU there are unified methods and forms of state regulation of insurance activities, which are established by the relevant directives of the European Union on insurance. In this regard, the strategic perspective of Ukraine's insurance system development should be based on European standards, in particular, it is necessary to improve the work of the regulator, the legal framework, life insurance and health insurance, accident compensation limits, etc. Therefore, in order to create a proper basis for further development of the insurance market, increase its reliability, the regulatory framework should be based on clear, understandable and modern principles that will ensure proper performance of the functions assigned to them by insurers.

scholarly journals Improving state regulation of the insurance services market

2020 ◽  
Vol 45 (2) ◽  
pp. 99-107
Author(s):  
Olha Klymenko
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
State Regulation ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Regulation System ◽  
Positive Trend ◽  
The European Union ◽  
Insurance Premiums

An urgent task in the field of public administration of non-banking financial services markets is to improve the regulation of the insurance market. On the example of the insurance services market, the problems of the functioning of the financial market regulation system are highlighted. Suggestions for its improvement are presented to increase the competitiveness of these markets. The development of the Ukrainian insurance market after 2015 to the present has a positive trend, which indicates the effectiveness and managerial ability of the state regulation system. The indicators of the state of the insurance market of Ukraine in comparison with similar indicators of such markets in the countries of the European Union are considered. The dynamics of concentration of the insurance market of Ukraine over the past 15 years has been analyzed. The main trends in the development of competition in this financial sphere have been identified. The necessity of state regulation of the concentration of the insurance market is substantiated. Views on the methodology and tools used in the study of the concentration and competitiveness of the insurance market are presented. Suggestions for improving the methods are given. It is shown that from 2012 to 2019 the Herfindahl - Hirschman index for risky types of insurance and for the insurance market as a whole has been increasing. It is established that according to the gradation of financial market concentration levels using the Herfindahl - Hirschman index, the insurance market of Ukraine corresponds to the degree of low concentration. According to the value of the Herfindahl - Hirschman indicator, the concentration of the life insurance market during 2003 – 2019, with the exception of 2015, is moderate. But the total share of gross insurance premiums collected by the three largest insurance companies in 2017 – 2019 exceeded 50 % of all gross insurance premiums. According to the Ukrainian law, such a market is considered a monopoly. It is shown that when analyzing the state and development of the insurance market of Ukraine, it is advisable to supplement the values of the Herfindahl - Hirschman index with corrective coefficients that take into account regional characteristics of the market, types of insurance, additional indicators of its functioning efficiency. Measures are proposed to accelerate the development of the insurance market of Ukraine by improving its regulation system.

scholarly journals A COMPARATIVE STUDY OF ISLAMIC AND SOUTH AFRICAN LAW ON LIVING AND CADAVERIC ORGAN DONATIONS: CONSENSUS AND DIVERGENCE

Obiter ◽  
2021 ◽  
Vol 42 (3) ◽  
Author(s):  
SS Nadvi ◽  
M Osman-Hyder
Keyword(s):  
South Africa ◽  
Comparative Study ◽  
Organ Donation ◽  
South African ◽  
Islamic Law ◽  
Pivotal Role ◽  
Medical Professionals ◽  
Organ Donations ◽  
Cadaveric Organ ◽  
Islamic Faith

Religion plays a pivotal role in people’s attitude to organ donation. Generally, practising Muslims (adherents of the Islamic faith) are unlikely to consent to organ donation because they believe it is not in keeping with the tenets of Islamic law (Sharī`ah). Although there is a wealth of information on organ donation with reference to both South African and Islamic law, there has not been a study comparing the two sets of laws. The purpose of this article is to develop the literature on living and cadaveric organ donation by drawing a comparison between Islamic law and South African law on this issue. Apart from a few minor differences inherent in each set of laws, there is a startling consensus in South African law and Sunnī (mainstream) Islamic law on the issue of organ donation. This research is also significant in that it provides legal and medical professionals, academics and practitioners with an informed position from which to advise clients and/or patients. This may in turn raise awareness among clients and/or patients, which could result in a desirable increase in organ donation rates among Muslims in South Africa. This article makes a number of recommendations in this regard.

Wajah Bengis Hukum Islam dalam Tafsir Kaum Muslim Radikal

2020 ◽  
Vol 7 (2) ◽  
pp. 107-125
Author(s):  
M. Farid Zaini
Keyword(s):  
Islamic Law ◽  
Local Context ◽  
Literary Study ◽  
Human Beings ◽  
The Past ◽  
Islamic Faith ◽  
The Impact ◽  
Religious Understanding

This paper is a form of literary study of Islamic law related to the interpretation of truth from two groups, namely Radical Muslims and Moderate Muslims. Radical Muslims construct narratives of "imagined Islam", both as a mythology of the past and a future utopia. They are aggressive and speak out loud in expressing their religious understanding, so that the impact becomes acts of violence and terror. In contrast to moderate Muslims, with a narrative of harmony that Islam is compromised with the local context of society, with the aim of realizing God's mercy and compassion for all human beings. The nature of compassion and moderation which are the basic values ​​of Islamic law must always be fought for against other Muslim groups who have violent and fierce faces. Furthermore, this paper wants to reveal the point of issue which is the source of interpretation between moderates and radicals in defining the meaning of "the truth of the Islamic faith" in applying God's laws on earth.

scholarly journals Current status and prospects of development of the system of agrarian insurance in Ukraine

2018 ◽  
Vol 15 (3) ◽  
pp. 56-70 ◽  
Author(s):  
Yulia Nesterchuk ◽  
Olena Prokopchuk ◽  
Yuriy Tsymbalyuk ◽  
Oleksandr Rolinskyi ◽  
Yuriy Bilan
Keyword(s):  
System Development ◽  
Method Comparison ◽  
Comparison Method ◽  
Current Status ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Strategy Of Development ◽  
Insurance System ◽  
Logical Method ◽  
Further Development

Under the conditions of the development of market relations, the insurance protection of agricultural producers plays an essential role in the economic stabilization of their development. Insurance can be one of the most effective tools for managing production, market and legal risks, but agricultural insurance is not well developed in the country. The purpose of the article is to study the current state and prospects for further development of the Ukrainian agrarian insurance system, based on developing the strategy of development of the latter with maximum consideration of needs and interests of all its participants.General scientific methods of scientific knowledge and research of economic phenomena are used for the achievement of the goal set in the article, such as the abstract-logical method, comparison method, monographic method, tabular method, graphical and scientific generalization.The article investigates features of the present state and general tendencies of functioning of the Ukrainian agrarian insurance system and outlines general features and prospects of further development of the latter, which are based on development of the strategy of system development with maximum consideration of needs and interests of all its participants. A set of principles is defined on which the strategy of development of the Ukrainian agricultural insurance system should be based and their further functioning in the format of the model of private-public partnership is proposed within the framework of the developed strategy. This represents a balance between public-private partnerships. The results of the study can be used for further scientific developments in this direction. The implementation of the measures proposed in the framework of the strategy for the development of the Ukrainian agrarian insurance system through the effective use of state resources and maximum use of the agrarian market and the insurance market should ensure stability of both agricultural production in general and income of the rural population in particular. This is a prerequisite for stable economic growth of the country and an increase in the welfare of its citizens.

scholarly journals KESALAHAN HUDUD DALAM NASKHAH SULALATUS SALATIN

2018 ◽  
Author(s):  
SALIHAHS BINTI RAZAK ◽  
ARBA’IE BIN SUJUD
Keyword(s):  
Islamic Law ◽  
Islamic Faith

Abstrak Kajian ini bertujuan untuk menilai tahap pelaksanaan hukuman terhadap kesalahan hudud berpandukan al-Quran dan Hadis dalam naskhah Sulalatus Salatin yang diselenggarakan oleh A. Samad Ahmad. Hukum hudud merupakan undang-undang yang dibuat oleh Allah SWT untuk menyekat tindak tanduk manusia daripada melakukan perbuatan yang dilarang. Kecenderungan kajian ini bertitik tolak daripada kemunculan agama Islam dalam pemerintahan masyarakat Melayu Melaka. Dengan munculnya agama Islam, maka undang-undang yang diperuntukkan turut dipengaruhi oleh unsur Islam yang menimbulkan persoalan sejauh manakah hukum Islam tersebut dilaksanakan. Objektif kajian ini bertunjangkan pada hukuman terhadap kesalahan hudud yang dikesan dalam naskhah Sulalatus Salatin sama ada dilaksanakan atau sebaliknya. Hukuman bagi kesalahan hudud adalah berpaksikan al-Quran mahupun hadis untuk menilai tahap pelaksanaan undang-undang berdasarkan peristiwa yang dikesan dalam naskhah Sulalatus Salatin. Hasil kajian mendapati terdapat empat kesalahan yang melibatkan hukum hudud dalam naskhah Sulalatus Salatin, iaitu kesalahan mencuri, merompak, meminum arak dan berzina yang juga dihubungkan dengan naskhah Undang-Undang Melaka yang diselenggarakan oleh Liaw Yock Fang. Dapatan juga menunjukkan bahawa kewajipan dalam melaksanakan hukuman bagi kesalahan hudud yang ditetapkan dalam al-Quran dan Hadis tersebut tidak dilaksanakan sepenuhnya dalam naskhah Sulalatus Salatin. Kata kunci: Pelaksanaan, hukum hudud, al-Quran, Sulalatus Salatin, Undang-Undang Melaka.   Abstract This study aims to evaluate the level of law execution on hudud offences according to the Qur’an and Hadith in Sulalatus Salatin by A. Samad Ahmad. Hudud is law created by Allah SWT for the purpose of preventing man from committing forbidden deeds. This study focuses on the emergence of the Islamic faith during the era of the Melaka Malay Kingdom which saw the then existing law being influenced by Islamic elements. This therefore raises the question of the extent in which Islamic law was implemented then. The objective of this study is to ascertain whether Hudud penalties as outlined in Sulalatus Salatin were implemented. The penalty for Hudud offences, based on the Qur’ran and Hadith, is used to determine the extent of hudud law implementation on infringements found in Sulalatus Salatin. Findings of the study identified four offences in Sulalatus Salatin which involved hudud law: theft, robbery, consuming alcohol and adultery which is also linked to Undang-undang Melaka by Liaw Yock Fang. The findings revealed that the execution of hudud law on hudud offences as determined by the Qur’an and Hadith was not implemented in its entirely in Sulalatus Salatin. Keywords: Implementation, Hudud Law, Quran, Sulalatus Salatin, Undang-Undang Melaka.  

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