Risk management in Islamic finance : : an analysis of derivatives instruments in commodity markets / / by Muhammad al-Bashir Muhammad al-Amine.

• Author: Al-Amine, Muhammad al-Bashir Muhammad.
• Place / Publishing House: Boston : : Brill,, 2008.
• Year of Publication: 2008
• Language: English
• Series: Brill's Arab and Islamic Laws Series 1.
• Physical Description: 1 online resource (360 p.)
• Notes: Description based upon print version of record.

This study addresses derivatives instruments in Islamic finance. It highlights the benefits of these instruments, their legal aspects and the appropriate alternatives. The forward, futures and options contracts in commodity markets are discussed and the arguments in favour of and against these instruments examined. The forward contracts issue includes the possibility of trading gold in forward basis, the forward market for currencies and the possible alternative to manage related risks. With the examination of futures contracts, the main arguments against such a contract are addressed, for example the sale prior to taking possession and the sale of debt hedging and speculation. The study proposes khiyar al-shart and bay al-arbun as tools of risk management and alternatives to options. The sale of pure rights is at the center of the admissibility of options in Islamic law and is investigated comprehensively.

Table of Contents

Preliminary Material / Muhammad al-Bashir and Muhammad al-Amine -- Chapter One. Introduction / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Two. The Forward Commodities Market / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Three. Is It Permissible to Exchange Gold with Paper Money on Forward Basis? / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Four. The Forward Market for Currencies / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Five. Concept, Scope of Futures Contracts and Speculation / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Six. Sale Prior to Taking Possession, Sale of Debt and Futures Contract / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Seven. Futures Market Regulation / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Eight. Concept and Scope / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Nine. Khiyar Al-shart, Risk Management and Options / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Ten. Arbun Risk Management and Options / Muhammad al-Bashir and Muhammad al-Amine -- Chapter Eleven. The Sale of Pure Rights and the Legality of Options / Muhammad al-Bashir and Muhammad al-Amine -- Conclusion / Muhammad al-Bashir and Muhammad al-Amine -- Glossary of Arabic Terms / Muhammad al-Bashir and Muhammad al-Amine -- Bibliography / Muhammad al-Bashir and Muhammad al-Amine -- Index / Muhammad al-Bashir and Muhammad al-Amine -- Abstract / Muhammad al-Bashir and Muhammad al-Amine -- ملخص البحث / Muhammad al-Bashir and Muhammad al-Amine.