The functions of a takaful in modern conditions

The article analyzes existing approaches to the definition of a takaful by a number of scholars; the original author's definition is also given. On the basis of the study of various scientific and special sources the author describes the principles, theses and distinctive features of the takaful from the commercial insurance. Based on the principles and provisions considered in the article, the economic content of the takaful is outlined. The takaful functions and the mechanism of their implementation in the modern conditions are shown.