Risk management in islamic finance: an analysis of derivatives instruments in commodity markets
Gespeichert in:
1. Verfasser: | |
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Format: | Abschlussarbeit Buch |
Sprache: | English |
Veröffentlicht: |
Leiden ; Boston
Brill
2008
|
Schriftenreihe: | Brill's Arab and Islamic laws series
1 |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | Includes bibliographical references and index |
Beschreibung: | XX, 337 Seiten |
ISBN: | 9789004152465 |
Internformat
MARC
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100 | 1 | |a Al-Amine, Muhammad al-Bashir Muhammad |e Verfasser |0 (DE-588)136904238 |4 aut | |
245 | 1 | 0 | |a Risk management in islamic finance |b an analysis of derivatives instruments in commodity markets |c by Muhammad Al-Bashir Muhammad Al-Amine |
264 | 1 | |a Leiden ; Boston |b Brill |c 2008 | |
300 | |a XX, 337 Seiten | ||
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490 | 1 | |a Brill's Arab and Islamic laws series |v 1 | |
500 | |a Includes bibliographical references and index | ||
502 | |a Zugl.: Kuala Lumpur, Univ., Diss. | ||
650 | 4 | |a Recht | |
650 | 4 | |a Religion | |
650 | 4 | |a Commodity exchanges |x Law and legislation | |
650 | 4 | |a Commodity exchanges |x Religious aspects |x Islam | |
650 | 4 | |a Finance (Islamic law) | |
650 | 4 | |a Option (Contract law, Islamic) | |
650 | 4 | |a Sales (Islamic law0 | |
650 | 4 | |a Risk management |x Religious aspects |x Islam | |
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Datensatz im Suchindex
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adam_text | CONTENTS
List of Tables......................................................................................... ix
List of Statutes...................................................................................... ix
List of Cases.......................................................................................... ix
Acknowledgments................................................................................ xi
List of Contemporary Scholars.......................................................... xiii
The Islamic Fiqh Academies.............................................................. xix
Transliteration....................................................................................... xxi
Chapter One Introduction ............................................................ 1
Background of the Research ........................................................ 1
Objectives of the Research ........................................................... 7
Research Methodology ................................................................. 8
Scope and Limitations of the Study ........................................... 10
Outline of Chapters ....................................................................... 12
Distinctive Features of the Research .......................................... 14
Literature Review ........................................................................... 15
Forward and Futures Contracts .................................................. 15
Options Contracts ......................................................................... 35
Chapter Two The Forward Commodities Market ..................... 44
Economic Benefits of the Forward Contract ............................ 45
Istisna and the Forward Contract .............................................. 61
Ibtida Al-Dayn Bi Al-Dayn and the Forward Contract ......... 63
Bay Al-Sifah and the Forward Contract ................................... 65
Nonexistence of the Subject Matter and the Forward
Contract ...................................................................................... 67
Chapter Three Is it Permissible to Exchange Gold with
Paper Money on Forward Basis? ................................................ 72
Historical Sketch of the World Monetary System .................... 72
Critical Analysis of Several Fatwas on Gold Trading .............. 75
The Tllah behind Trading Gold unless Its Hand to Hand ...... 84
The Effect of the Illah in Gold to Its Trade on a Forward
Basis ............................................................................................. 87
VI CONTENTS
Chapter Four The Forward Market for Currencies ................... 94
Basic Rules of Currency Exchange and Paper Money ............ 94
Mutual Promise in Currency Exchange ..................................... 103
Mutual Loan and Currency Risk Management ........................ 109
Currency Basket and Risk Management ................................... 110
Managing Price Fluctuation through Deposit .......................... Ill
Cooperative Funds and Currency Risk Management ............. Ill
THE FUTURES MARKET
Chapter Five Concept, Scope of Futures Contracts and
Speculation ..................................................................................... 121
Concept of Futures Contracts .................................................... 121
Characteristics of a Succesful Futures Market .......................... 123
Futures Contracts and Forward Contracts ................................ 124
A Brief History of the Commodity Market .............................. 130
Scope of the Futures Market ........................................................ 133
Economic Benefits of Futures Contracts ................................... 134
The Clearinghouse and the Futures Market .............................. 139
Hedging and the Futures Market ................................................ 141
Speculation and the Futures Market .......................................... 143
Speculation and Financial Crises ................................................ 150
Arbitrage and Speculation ............................................................ 155
Margin Trading and Speculation ................................................ 157
Chapter Six Sale Prior to Taking Possession, Sale of Debt
and Futures Contract .................................................................... 159
Juristic Debate over Sale prior to Taking Possession .............. 159
The Meaning of Ta am .................................................................. 164
Salam and the Futures Contracts ............................................... 165
Parallel Salam and the Futures Market ...................................... 167
Chapter Seven Futures Market Regulation ................................. 177
Intermediaries in the Futures and Options Market ................. 177
The Fidelity Fund .......................................................................... 180
Futures Market Regulation .......................................................... 181
Trading Offences Under the Futures Industry Act and
Islamic Law ................................................................................ 186
CONTENTS Vii
THE OPTIONS MARKET
Chapter Eight Concept and Scope ............................................... 195
Concept of Options ....................................................................... 195
Definition ........................................................................................ 196
Economic Benefits of Options ..................................................... 198
American and European Options ............................................... 203
Types of Options ........................................................................... 204
Exchange Traded and Over-The-Counter Islamic Options .... 206
A Brief History of Options Trading ........................................... 207
Scope of Options ........................................................................... 208
Options and Gambling ................................................................. 210
Chapter Nine Khiyar Al-Shart, Risk Management and
Options ............................................................................................ 222
Concept of Khiyar Al-Shart ......................................................... 223
The Terms of Khiyar Al-Shart ..................................................... 224
Ownership of Commodity During the Period of Khiyar and
Libiality for Damage ................................................................. 226
Managing Price Risk with Khiyar Al-Shart ............................... 228
Khiyar Al-Naqd .............................................................................. 234
Chapter Ten Arbun Risk Management and Options ............... 237
The Legal Status of Bay Al-Arbun ............................................. 241
Arbun in Currency Exchange or sarf ........................................ 242
Arbun in Commodities and Services ........................................ 242
Arbun in Shares Trading ............................................................. 244
Arbun in Murdbahah .................................................................... 245
Arbun in Salam ............................................................................. 250
Arbun in Istisna ........................................................................... 251
Arbiin as the Islamic Alternative to Options ........................... 252
Arbun as an Alternative to Call Option .................................... 253
Arbiin as an Alternative to Put Option ..................................... 254
Does Options Trading Involve the Combination of Two
Contracts in One Transaction? ............................................... 264
Vlll CONTENTS
Chapter Eleven The Sale of Pure Rights and the Legality
of Options ....................................................................................... 266
Concept of Mai or Property ........................................................ 273
Haqq Al-Nuzul An Al-Waza if and the Sale of Rights ............ 276
Huquq Al-Irtifdq and the Sale of Rights .................................... 278
Badal Al-Khulu and the Sale of Rights ...................................... 280
Sale and Exchange of the Right of Precedence ........................ 282
Intellectual Property and the Sale of Right ............................... 284
Right to Option in Khiydr Al-Shart and Right ofShuf ah
or Pre-Emption as Property Rights ........................................ 287
Sale and Exchange of the Right to Option in Khiydr
Al-Shart and the Right to Pre-Emption or Shuf ah ............ 290
Exchange of Right to Bargain for Purchase of Commodity ... 294
Sale of a Right By a Wife To Have Her Husband With Her ... 295
Earning an Exchange For Waiving the Right To Haddnah .... 295
Earning an Exchange For Waiving a Right ............................... 296
Conclusion .......................................................................................... 299
Glossary of Arabic Terms ................................................................. 309
Bibliography ........................................................................................ 319
Index .................................................................................................... 329
Abstract ............................................................................................... 333
.......................................................................................... 338
LIST OF TABLES
1.1 Opinion of Major Schools on the Conditions of Salam .... 53
2.2 Comparison Between Futures and Forward Contracts ..... 126
LIST OF STATUTES
Company Act 187
Futures Industry Act 11; 12; 18; 159;
161; 162; 187; 240;
241; 242; 143; 245;
247; 252; 254; 258
Securities Industry Act 11; 12; 247
LIST OF CASES
Sydney Futures Exchange Ltd v. Australian Stock Exchange
Ltd (1995) 13 ACLC 369 .................................................................. 121
Richardson Greenshields of Canada(Pacific) LtD v. Keug
Chak-kiu and Hong Kong Futures exchange LtD (1989)
1 HKLR 476 ........................................................................................ 210
|
any_adam_object | 1 |
author | Al-Amine, Muhammad al-Bashir Muhammad |
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dewey-ones | 332 - Financial economics |
dewey-raw | 332.64/4091767 |
dewey-search | 332.64/4091767 |
dewey-sort | 3332.64 74091767 |
dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
format | Thesis Book |
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isbn | 9789004152465 |
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spelling | Al-Amine, Muhammad al-Bashir Muhammad Verfasser (DE-588)136904238 aut Risk management in islamic finance an analysis of derivatives instruments in commodity markets by Muhammad Al-Bashir Muhammad Al-Amine Leiden ; Boston Brill 2008 XX, 337 Seiten txt rdacontent n rdamedia nc rdacarrier Brill's Arab and Islamic laws series 1 Includes bibliographical references and index Zugl.: Kuala Lumpur, Univ., Diss. Recht Religion Commodity exchanges Law and legislation Commodity exchanges Religious aspects Islam Finance (Islamic law) Option (Contract law, Islamic) Sales (Islamic law0 Risk management Religious aspects Islam Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Islam (DE-588)4027743-4 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Islam (DE-588)4027743-4 s Kreditwesen (DE-588)4032950-1 s Derivat Wertpapier (DE-588)4381572-8 s DE-604 Erscheint auch als Online-Ausgabe 978-90-474-4030-7 90-474-4030-7 Brill's Arab and Islamic laws series 1 (DE-604)BV035320810 1 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017092691&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Al-Amine, Muhammad al-Bashir Muhammad Risk management in islamic finance an analysis of derivatives instruments in commodity markets Brill's Arab and Islamic laws series Recht Religion Commodity exchanges Law and legislation Commodity exchanges Religious aspects Islam Finance (Islamic law) Option (Contract law, Islamic) Sales (Islamic law0 Risk management Religious aspects Islam Derivat Wertpapier (DE-588)4381572-8 gnd Islam (DE-588)4027743-4 gnd Kreditwesen (DE-588)4032950-1 gnd |
subject_GND | (DE-588)4381572-8 (DE-588)4027743-4 (DE-588)4032950-1 (DE-588)4113937-9 |
title | Risk management in islamic finance an analysis of derivatives instruments in commodity markets |
title_auth | Risk management in islamic finance an analysis of derivatives instruments in commodity markets |
title_exact_search | Risk management in islamic finance an analysis of derivatives instruments in commodity markets |
title_full | Risk management in islamic finance an analysis of derivatives instruments in commodity markets by Muhammad Al-Bashir Muhammad Al-Amine |
title_fullStr | Risk management in islamic finance an analysis of derivatives instruments in commodity markets by Muhammad Al-Bashir Muhammad Al-Amine |
title_full_unstemmed | Risk management in islamic finance an analysis of derivatives instruments in commodity markets by Muhammad Al-Bashir Muhammad Al-Amine |
title_short | Risk management in islamic finance |
title_sort | risk management in islamic finance an analysis of derivatives instruments in commodity markets |
title_sub | an analysis of derivatives instruments in commodity markets |
topic | Recht Religion Commodity exchanges Law and legislation Commodity exchanges Religious aspects Islam Finance (Islamic law) Option (Contract law, Islamic) Sales (Islamic law0 Risk management Religious aspects Islam Derivat Wertpapier (DE-588)4381572-8 gnd Islam (DE-588)4027743-4 gnd Kreditwesen (DE-588)4032950-1 gnd |
topic_facet | Recht Religion Commodity exchanges Law and legislation Commodity exchanges Religious aspects Islam Finance (Islamic law) Option (Contract law, Islamic) Sales (Islamic law0 Risk management Religious aspects Islam Derivat Wertpapier Islam Kreditwesen Hochschulschrift |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017092691&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
volume_link | (DE-604)BV035320810 |
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