Instruments

Foreign Exchange Market


The Shari’ah Ruling On Currency Trading
A Customer Has Local Currency and Wants to Deposit It in His Account as Foreign Currency
Rectifying The Difficulties Of Currency Trading
An Islamic Bank Has an Account in Foreign Currency with a Foreign Bank and Vice Versa. Can They Treat Each Other’s Deposits as Non-Interest Loans for Investment?
Dollars Are Purchased at Different Prices on the Same Day; Which Price Should the Customers Be Charged?
RESOLUTION No. 84/1/9: GOLD TRADE, SHARI'A SOLUTIONS FOR COMBINED CASH AND TRANSFER PAYMENTS
Is It Allowed for an Islamic Bank to Place an Interest-Bearing Deposit in the Central Bank if the Law Requires It?
Is it allowed to fix the exchange price on the subscription day rather than the transaction day?
What is the ruling on a transaction concerning a promise to sell foreign currencies?
Forward Foreign Currency Exchange Transaction Based on Bai` Mu’ajjal
Foreign Currency Option Based on Hamish Jiddiyyah, Wa`d and Tawarruq
Foreign Currency Option Based on Wa`d and Two Independent Tawarruq Transactions
Hukum Perdagangan Pertukaran Matawang Asing oleh Individu Secara Lani (Individual Spot Forex) Melalui Platfom Elektronik
What is the Ruling on the zakat on Financial Portfolios that Represent Funds for Investment in Foreign Currency Exchange?
Is it Allowed for an Islamic Bank to Provide Qard Hasan to Another Bank on the Condition that the Latter Sells Foreign Currency to the Former Based Purchase Price Determined by the Central Bank?
Is it Allowed to Open Investment Accounts in Foreign Currencies on the Condition that these Funds Remain in the Same Currencies with the Bank?
Registration of Murabaha Transaction at the Exchange Rate Prevailing On the Day of Purchase from the Exporter.
the Difference between the Currency of the Credit and the Currency of the Murabaha

Islamic Derivatives

A forward contract is an agreement between two counter parties to buy or sell at a specified future time an asset for a certain price (the delivery price). The party that agrees to buy the underlying asset assumes a long position on the contract; the other party assumes a short position and consents to sell the asset on the same future date for the same delivery price. For further details see: GLOBAL DERIVATIVES: Products, Theory and Practice.

Forward Foreign Currency Transaction

A futures contract is basically a forward contract which is standardised with respect to contract size, maturity, product quality, place of delivery, etc. For further details see: ISRA, Islamic Financial System; Principles and Operations.

A swap is a contractual agreement in which two parties agree to exchange payments over a period of time, based on a notional amount of the underlying asset. For further details see: ISRA, Islamic Financial System; Principles and Operations.

Islamic Profit Rate Swap Based on Bai` `Inah

An option contract entitles the holder the right, but not the obligation, to buy (or sell) the underlying asset at a predetermined exercise price at, or any time before, maturity. For further details see: ISRA, Islamic Financial System; Principles and Operations.

RESOLUTION No. 63/1/7: FINANCIAL MARKETS

Forward Foreign Currency Transaction
قرار رقم: 195 (1/21) بشأن التحوط في المعاملات المالية

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