LATEST TRENDS IN ISLAMIC DERIVATIVES (ISRA-TR REPORT 2016)

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Year: 2016


Islamic derivatives have been a long-standing component of the wider Islamic finance industry, providing risk management solutions to complement other sectors of the industry and offering hedging possibilities to Shariah-compliant market participants.

Those fundamental tenets of Shariah jurisprudence which are particularly relevant to Islamic derivatives are:

Prohibition of Gharar: the lack of certainty to a contract is not permitted as this could affect the degree or quality of consent of the parties to a contract;

Prohibition of Maysir: games of chance or speculation are forbidden on the basis that they create no additional value to society. 

 

Source:

 

ISRA THOMSON REUTERS ISLAMIC COMMERCIAL LAW REPORT 2016 (Pg 113 - 116)


 

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