Derivatives in Islamic finance : examining the market risk management framework /

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An economic and legal analysis of derivative hedging instruments in Islamic finance. The Islamic finance industry faces the challenging task of attempting to reconcile the risk management demands of business entities with the difficulties posed by the seemingly rigid stance taken by some Shari'...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Ayoub, Sherif (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Edinburgh : Edinburgh University Press, [2014]
Colección:Edinburgh guides to Islamic finance.
Temas:
Financial risk management > Islamic countries.
Finances > Gestion du risque > Pays musulmans.
BUSINESS & ECONOMICS > Finance.
RELIGION > Islam > General.
Financial risk management
Islamic countries
Acceso en línea:Texto completo
Tabla de Contenidos:
  • 1. Introduction
  • 2. Truth formation in Mua'amalat
  • 2.0. Introduction
  • 2.1. The path to the truth: the role of Maslaha, Qiyas and Igma'a
  • 2.2. Truth-seeking in the scripture: the reality imposed by critical rationalism and hermeneutics
  • 2.3. Conclusion
  • 3. Market risks and their management
  • 3.0. Introduction
  • 3.1. Risk and its management
  • 3.2. Risk identification
  • 3.3. Risk measurement
  • 3.4. Risk strategy
  • 3.5. Rationale for hedging
  • 3.6. Conclusion
  • 4. Conventional derivatives: theory and practice
  • 4.0. Introduction
  • 4.1. Economics of derivatives
  • 4.2. Conventional derivative instruments
  • 4.3. Conclusion
  • 5. Derivatives in Islamic finance
  • 5.0. Introduction
  • 5.1. Resolutions by standard-setting bodies in Islamic jurisprudence
  • 5.2. Theoretical Shari'ah issues
  • 5.3. Contractual Shari'ah issues
  • 5.4. Contemporary derivatives in Islamic finance
  • 5.5. Conclusion
  • 6. Permissibility of the underlying variables and the recognition of the contract
  • 6.0. Introduction
  • 6.1. Permissibility of the underlying variables: interest rate benchmarks
  • 6.2. Permissibility of the underlying variables: currency benchmarks
  • 6.3. The nature of money in Islam
  • 6.4. Recognition of the derivative contract
  • 6.5. Conclusion
  • 7. Maysir, hedging and derivatives
  • 7.0. Introduction
  • 7.1. A conceptualisation of Maysir in Islamic and Western thought
  • 7.2. Maysir, Gharar and the indeterminacy of the zero-sum prohibition
  • 7.3. Investment, speculation and gambling: the environment of risk management
  • 7.4. The role of financial intermediaries as speculators
  • 7.5. Conclusion
  • 8. Conclusion.

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