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Risk management in islamic finance : an analysis of deviratives instruments in commodity markets

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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.

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Detail Information

Series Title

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Call Number

297.273 MUH r

Publisher

Leiden, The Netherlands. : Koninklijke Brill NV., 2008

Collation

xx, 337 p.: ill.

Language

English

ISBN/ISSN

978-90-04-15246-5

Classification

297.273

Content Type

text

Media Type

unmediated

Carrier Type

online resource

Edition

Vol. 1

Subject(s)

Ekonomi Islam
Hukum Islam

Specific Detail Info

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Statement of Responsibility

Muhammad al-bashir muhammad al-amine

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