State Insurance Company to introduce system based on Islamic principles

Economy Загрузка... 30 September 2025 11:48
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Bishkek, Sept. 30, 2025 /Kabar/. Accordingly with Cabinet's instructions, Islamic window was opened in July, Deputy Chairman of the Board of the State Insurance Organization, Baktygul Abdyzhaliev, announced on Birinchi Radio.

He noted that the implementation of Islamic insurance principles will enable a wider range of services to be offered based on individual preferences.

We intend to conduct specific work with current government agencies on home insurance and compulsory motor third-party liability insurance (OSAGO) laws and develop a package of relevant amendments that will allow citizens to choose. Home insurance will be available in either the traditional form or in accordance with Sharia law. I believe that next year we will be able to offer these products, which will provide certain segments of society with guarantees and confidence, Abdyzhaliev said.