Islamic banking and derivative financial instruments


  • N. Baitenova Al-Farabi Kazakh National University
  • D. Zamanbekov Asfendiyarov Kazakh National medical university
  • A. Imataeva Asfendiyarov Kazakh National medical university


Islamic Bank, financial instruments the Islamic banking, takaful (insurance), risk management.


Methodological base of research in given clause was made with mod­ ern concepts Islamic banking and Islamic model of financing takaful (in­ surance) as a whole. Findings: the results indicate the mathematical model consists of a probability space, a Brownian motion and a Poisson process. The jumps are independent and identically distributed. The approach con­ sists of defining a notion of risk and production instrument takaful (insur­ ance) in order to minimize the risk. Originality/value: ­ In new judgement the principle «riba» an islam breaking moral laws as an interdiction of usury and its significant advantages in any spheres of human life is shown; ­ The author’s financial analysis of economic experience Islamic bank­ ing in the countries of near and far abroad as new judgement of Islamic bank system is lead; ­ In a new context features of financial specificity Islamic model of financing takaful (insurance) in modern Kazakhstan are revealed.


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