On March 27, 2026, the Cabinet of Ministers of the Kyrgyz Republic adopted a resolution "On Approving requirements for insurance based on Islamic principles (takaful), imputed insurance, and annuity insurance", according to the Service for regulation and supervision of the financial market of Kyrgyzstan.

The adopted resolution aims to develop the Kyrgyz insurance market, expand financial instruments consistent with international practice, and ensure protection of property interests of individuals and legal entities.

The main objective of takaful insurance is a mutual agreement between takaful fund participants exposed to certain risks to jointly cover losses. This mechanism is implemented through voluntary contributions (tabarru), which form a takaful fund. The fund is used to compensate participants for insured damages, reflecting the principles of mutual assistance, solidarity, and fairness.

The resolution also establishes requirements for imputed insurance. The following types of imputed insurance are included:

1. insurance of pledged property accepted by a pawnshop as collateral or for safekeeping;
2. tour operator liability insurance for tourists (medical or accident insurance);
3. private notary civil liability insurance;
4. civil liability insurance for appraisers or appraisal organizations;
5. professional liability insurance for realtors;
6. liability insurance for depositories and management companies;
7. insurance of leased assets;
8. civil liability insurance of aircraft owners or operators for damage caused to life or health of passengers, luggage and belongings, cargo or mail, aircraft crew members, aviation personnel, and third parties;
9. civil liability insurance of audit firms.

Adoption of the resolution contributes to formation of a sustainable and transparent insurance system, development of Islamic financial instruments, and increased protection of the rights and legitimate interests of participants in the insurance market of the Kyrgyz Republic, the press release says.