Cover image for Financial engineering and Islamic contracts
Title:
Financial engineering and Islamic contracts
Publication Information:
New York, NY : Palgrave MacMillan, 2005
ISBN:
9781403947192

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30000010103825 KBP940.3 F56 2005 Open Access Book Book
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Summary

Summary

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.


Author Notes

MUHAMMAD AL-BASHIR MUAHMMAD AL-AMINE International Islamic University, MalaysiaABDEL NASER MOUSA ABU AL-BASEL Dean of Faculty of Shaiah and Islamic Studies, Yarmouk University, JordanABDUL RAHIM AL-SAATI Centre for Research in Islamic Economics, King Abdul Aziz University, Saudi ArabiaSAMI I. AL-SUWAILEM Research Economist, Islamic Research and Training Institute, Islamic Development Bank, Saudi ArabiaMOHAMED ALI ELGARI Associate Professor of Islamic Economics, King Abdul Aziz University, Saudi ArabiaNADEEM UL HAQUE International Monetary Fund Resident Representative, EgyptHUSSAIN HAMID HASSAN Chairman, Shaiah Supervisory Board, Dubai Islamic Bank, UAEHAMDEN HJ ISMAIL Manager, Bank Pertanian, MalaysiaABDUL LATIF A RAHIM JANAHI Chairman, Board of Executive Directors, Khaleej Finance and Investment Company, BahrainMOHAMMAD HASHIM KAMALI Professor of Islamic Law and Jurisprudence, International Islamic University, MalaysiaADIWARMAN A. KARIM Karim Business Consulting, IndonesiaZAFAR IQBAL KAYANI Professor, Economics and Finance Department, College of Business Administration, University of BahrainSAIFUL AZHAR ROSLY Associate Professor, Department of Economics, International Islamic University, MalaysiaM. A. ZARQA


Table of Contents

Introduction; M.IqbalT.Khan
Fiqhi Issues in Commodity FuturesM.H.Kamali and M.A.Zarqa and A.N.M.Abu al-Basel
Commodity Derivatives: An Islamic AnalysisM.A-B.M.al-Amine and M.A.Elgari and Z.I.Kayani
Shari Ah Alternatives to Government BondsA.L.A.R.Janahi
Potential Use of Salam Financing in MalaysiaS.A.Rosly and H.H.Ismail and H.H.Hassan and A.R.al-Saati
Optimal Sharing ContractsS.I.al-Suwailem and N.ul Haque and A.A.Karim