09 November 2009, 13:29
The first insurance company operating under Shariat laws is established in Russia
Moscow, November 9, Interfax - There has been concluded an agreement to establish the first Russia's "Takaful business", an insurance company operating under Shariat laws.
In the first quarter of 2010, a new organization intends to offer its customers the services of motor hull insurance and pilgrimage trips, Kommersant daily reports Monday morning.
One distinction of the Islamic insurance concept is that the customer shares the company's revenue in the form of discounts for the insurance period of the next year or any side payments in case of customer's insurance termination.
"We had to substantively upgrade the classic Takaful model applicable within the Middle East; our model is closer to a more liberal Malaysian one," Shamil Murtazaliev, Vice-President on investments of Saphinat Group, told.
The potential Takaful insurance market in Russia is estimated at US $2.6 billion. The size of international financial services market operating under the Islamic laws exceeds US $750 billion.
- Russian Muslim leader: Crimea has the right to choose to become part of Russia 07 March 2014, 10:04
- Acting Ukrainian president is a pastor and its prime is a scientologist 05 March 2014, 17:28
- Patriarch Kirill to meet with heads of Orthodox Churches in Istanbul 05 March 2014, 16:04
- Kadyrov orders to provide housing to Orthodox priests 05 March 2014, 10:01
- Crimean authorities promise to fight against Hizb ut-Tahrir 03 March 2014, 16:39
- Ideas calling for revision of moral values are dangerous - Lavrov 03 March 2014, 15:36
- Russia slams Western countries' attempts to "flirts" with Islamist rebels in Syria 03 March 2014, 10:11
- Russian patriarch asks Turchynov to stop ethnic discrimination 03 March 2014, 10:10
- Patriarch Kirill prays for peace in Ukraine 03 March 2014, 10:05
- Tatarstan mufti calls on Ukraine's Muslims to resolve disputes peacefully 28 February 2014, 14:35
- Stepashin meets Pope Francis 27 February 2014, 11:23
- Moscow urges Kiev to stop nation from sliding to religious confrontation 27 February 2014, 10:01
- Patriarch Kirill calls for end of violence in Ukraine 26 February 2014, 17:09
- Orthodox Christian fund wants to buy Kutuzov monument removed in Ukraine 26 February 2014, 16:00
- Old Russian icons are taken from Kiev exhibition ahead of schedule to escape the danger of damage 26 February 2014, 13:04
- Locum tenens of the Kievan See is skeptic about prospects of the dialogue with schismatics in the "time of trouble" 26 February 2014, 12:48
- World Russian People's Council threatens with legal prosecution to those who try to capture churches in Ukraine 26 February 2014, 12:12
- Moscow Patriarchate welcomes Metropolitan Onufry's election as head of Metropolitan Diocese in Kiev 26 February 2014, 10:01
- Metropolitan Onufry elected locum tenens of Kievan Metropolitan See 25 February 2014, 14:34
- Ukraine synagogue attacked 25 February 2014, 11:31
- Patriarch Kirill calls on Ukrainian authorities not to interfere in church affairs 24 February 2014, 17:53
- Patriarch Kirill prays for peace in Ukraine standing on his knees 24 February 2014, 16:57
- Tajik Islamists file lawsuit against special services, state-run television 21 February 2014, 16:03
- Requiem service for those killed in Ukraine held in the Kiev Laura of the Caves 21 February 2014, 10:54
- Renovation of Basilica of the Nativity in Bethlehem will cost 20 million 19 February 2014, 16:54
- A medical station set up on the grounds of the St. Michael's Cathedral in Kiev 19 February 2014, 15:42
- Ukrainian Orthodox Church calls for halt of bloodshed in Kiev 19 February 2014, 14:55
- Gay marriages don't make Russia, Europe closer to each other - Russian MP 19 February 2014, 14:00
- Detained terrorist group led by Osh mosque deputy imam - Kyrgyz police 19 February 2014, 12:33
- Patriarch Kirill's visit to Sochi was a great event for sportsmen, head of his press service says 19 February 2014, 10:01