Financial Engineering and Islamic Contracts

by Tariqullah Khan, M. Iqbal (Editor)

Overview

The text is the first of its kind on financial engineering and risk management in Islamic finance. It sets out detailed guidelines for financial engineering from an Islamic perspective. The text also presents some practical issues concerning futures contracts and how these can be handled from an Islamic perspective. It brings out the different points of view in this respect and reflects the current state of knowledge as well as the challenges that lie ahead for financial engineers. The text explores the prospects of some Islamic contracts having similarity with commodity futures; forward contracts, especially in agriculture; and Islamic permissible contractual arrangements for resource mobilization by the public sector. It also makes an analytical comparison between debt and equity contracts with regard to incentive compatibility and efficiency.

Product Details

ISBN-13:	9781403947192
Publisher:	Palgrave Macmillan UK
Publication date:	10/26/2005
Edition description:	2005
Pages:	212
Product dimensions:	5.51(w) x 8.50(h) x 0.03(d)

About the Author

MUHAMMAD AL-BASHIR MUAHMMAD AL-AMINE International Islamic University, Malaysia ABDEL NASER MOUSA ABU AL-BASEL Dean of Faculty of Shaiah and Islamic Studies, Yarmouk University, Jordan ABDUL RAHIM AL-SAATI Centre for Research in Islamic Economics, King Abdul Aziz University, Saudi Arabia SAMI I. AL-SUWAILEM Research Economist, Islamic Research and Training Institute, Islamic Development Bank, Saudi Arabia MOHAMED ALI ELGARI Associate Professor of Islamic Economics, King Abdul Aziz University, Saudi Arabia NADEEM UL HAQUE International Monetary Fund Resident Representative, Egypt HUSSAIN HAMID HASSAN Chairman, Shaiah Supervisory Board, Dubai Islamic Bank, UAE HAMDEN HJ ISMAIL Manager, Bank Pertanian, Malaysia ABDUL LATIF A RAHIM JANAHI Chairman, Board of Executive Directors, Khaleej Finance and Investment Company, Bahrain MOHAMMAD HASHIM KAMALI Professor of Islamic Law and Jurisprudence, International Islamic University, Malaysia ADIWARMAN A. KARIM Karim Business Consulting, Indonesia ZAFAR IQBAL KAYANI Professor, Economics and Finance Department, College of Business Administration, University of Bahrain SAIFUL AZHAR ROSLY Associate Professor, Department of Economics, International Islamic University, Malaysia M. A. ZARQA

Table of Contents

Introduction; M.Iqbal & T.Khan Fiqhi Issues in Commodity Futures; M.H.Kamali, M.A.Zarqa & A.N.M.Abu al-Basel Commodity Derivatives: An Islamic Analysis; M.A-B.M.al-Amine, M.A.Elgari & Z.I.Kayani Shari Ah Alternatives to Government Bonds; A.L.A.R.Janahi Potential Use of Salam Financing in Malaysia; S.A.Rosly, H.H.Ismail, H.H.Hassan & A.R.al-Saati Optimal Sharing Contracts; S.I.al-Suwailem, N.ul Haque & A.A.Karim

Editorial Reviews

'As a whole, the book contains papers with a high level of academic content and can see eye to eye with conventional economic literature.' - The Muslim World Book Review

From the Publisher