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RISK MANAGEMENT IN ISLAMIC FINANCE: AN ANALYSIS OF DERIVATIVES INSTRUMENTS IN COMODITY MARKETS
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 proposeskhiyar al-shartandbay al-arbunas 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.
10010305 | 332.10681 AMI r | RLC MM (Rak Buku Wajib) | Available |
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