In the Ministry of Economics they discussed strategy of development of Islamic insurance

On August 18, 2015 in the Ministry of Economics of the Republic of Tatarstan the meeting on discussion of strategy of development of Islamic insurance in the Republic of Tatarstan took place.

Representatives of the branch ministries and departments of the Republic of Tatarstan, Office in meeting – National bank on the Republic of Tatarstan of Volga-Vyatka head department of the Central bank of the Russian Federation, NO "Investment and venture fund of the Republic of Tatarstan", NO "Guarantee fund of the Republic of Tatarstan", Fund of development of Islamic business and finance, and also JSC SK "Alyans Zhizn" took part. The meeting passed under the chairmanship of the deputy minister of economy of the Republic of Tatarstan Bulat Haziakhmetov.

Within meeting of JSC SK Alyans Zhizn the product of Islamic life insurance – "Halyal-Invest" wich provides investment of means according to norms of Sharia was presented. Also discussion of questions of development of Islamic insurance, implementation of the Halyal-Invest project in the Republic of Tatarstan took place.

Distinctive feature of Islamic insurance upon the traditional consists in a question of investment of the financial means coming to insurance company from insurers. Thus the insurance company, besides providing actually insurance protection, plays a role of the management company authorized to place means of participants in the assets corresponding to the principles of Sharia.