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Derivative Instruments and Islamic Finance

In: Financial Derivatives Markets and Applications

Author

Listed:
  • Obiyathulla Ismath Bacha
  • Pattarake Sarajoti

Abstract

This chapter provides an overview of Islamic financial contracts that have the features of modern-day derivatives. It also outlines some of the necessary features for an Islamic financial instrument and examines the opinion of Islamic jurists/scholars on the validity of modern derivative instruments. An in-depth description of several Shariah-compliant structured products is provided. The mechanics of their use in risk management is illustrated. On completing this chapter, you should have a good understanding of Shariah-compliant risk management tools.

Suggested Citation

  • Obiyathulla Ismath Bacha & Pattarake Sarajoti, 2023. "Derivative Instruments and Islamic Finance," World Scientific Book Chapters, in: Financial Derivatives Markets and Applications, chapter 13, pages 471-502, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811261480_0013
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    More about this item

    Keywords

    Derivatives; Financial Derivatives; Derivative Markets; Forwards; Futures; Options; Shariah Compliant Derivatives; Islamic Derivatives;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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