View source for Islamic Derivatives

[[Islamic law]] requires that in a [[contract]] is about a proper object not per se a right to sell or buy (option). In a sale contract only delivery ([[Salam]]) or payment ([[Bay Muajjal]]) can be postponed but not both like with a future or forward. 

Due to these various restrictions Islamic Derivatives are difficult to develop and controversely discussed. The restrictive view gain more prominence after the financial crisis.

See also:
[[Profit Rate Swap]], [[Tahawut]], [[Arbun]], [[Forex Swap]]


==References==

* [http://www.nortonrose.com/knowledge/publications/2010/pub26861.aspx?lang=en-gb The Ta’Hawwut Master Agreement - Explanations by Norton Rose]
* [http://ftalphaville.ft.com/blog/2010/03/01/161386/sharia-compliant-hedging-is-finally-actually-here/ Sharia compliant hedging is finally, actually here] from FT Alphaville
* [http://mpra.ub.uni-muenchen.de/12752/1/MPRA_paper_12752.pdf Derivative Instruments and Islamic Finance: Some Thoughts for a Reconsideration] by Bacha, Obiyathulla I.
* [http://mpra.ub.uni-muenchen.de/20081/1/MPRA_paper_20081.pdf Islamic Financial Engineering and Methodology In Achieving Therapeutic Process of Global Financial System] by Alsayyed, Nidal
* [http://www.sbp.org.pk/departments/ibd/derivatives_islamic.pdf DERIVATIVES AND ISLAMIC FINANCE] by Muhammad Ayub
* [http://www.shariahcap.com/pubs/shariah/the_arboon_sale_english.pdf The Arboon Sale - A Shariah Compliant Alternative to Selling Short with Borrowed Securities] by Sheikh Yusuf DeLorenzo
* [http://db.riskwaters.com/global/risk/pdf/0804_sr_corporate_sponsorBNP.pdf Sharia-compliant structured products] by BNP Paribas
* [http://deposit.d-nb.de/cgi-bin/dokserv?idn=984545581&dok_var=d1&dok_ext=pdf&filename=984545581.pdf Developmental Perspectives on Financial Innovation in Forward and Futures Derivatives] by Osama Abdelwahab
* [http://islamic-finance-resources.blogspot.com/2009/06/shariah-compliant-profit-rate-swap.html Shariah Compliant Profit Rate Swap] 
* [http://www.azmilaw.com/Article/Article_6_&_7/Article_6_Developments_of_Islamic_Swaps_in_Malaysia_00068949-2.pdf Developments of Islamic Swaps in Malaysia] Azmi and Associates
* [http://www.google.ch/url?sa=t&source=web&ct=res&cd=10&ved=0CEMQFjAJ&url=http%3A%2F%2Fiimm.bnm.gov.my%2Fview.php%3Fid%3D37%26dbIndex%3D0%26website_id%3D14%26ex%3D1261116005%26md%3DtGuX%2580h%25A1%25C3r%25D0%251E%253C%2509I%25FE%25E1&ei=I8SOS8WBKpaanwPEg9WuCw&usg=AFQjCNEZyJ6l9BwvTz0aR4iO9q0XVUhVUw&sig2=kfBhSv4jW5StATmbHa9vPA ISLAMIC DERIVATIVES SOLUTIONS:  METHODOLOGY, ISSUES AND PRODUCT STRUCTURING WITH SPECIAL REFERENCE TO PROFIT RATE SWAP AND FORWARD FOREX] Presentation by Sheikh Daud Bakar
* [http://www.db.com/presse/en/download/White_Paper.pdf Deutsche Bank White Paper] regarding Waad
* [http://www.failaka.com/downloads/DeLorenzo_TotalReturnsSwap.pdf Critic towards the structured Waad by Sheikh DeLorenzo]
* [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1015615 Derivatives in Islamic  Finance] by Andreas Jobst
* [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1260110 Islamic Hedging: Gambling or Risk Management?] by Saadiah Mohamad, Ali Tabatabaei 
* [http://www.daralistithmar.com/files/ElGari_RT2Paper_15%2004%2009LM.pdf The Islamic Perspective on Derivatives] by Dr Mohammed Elgari
* [http://web.cenet.org.cn/upfile/68807.pdf On the pareto-optimality of futures contracts over Islamic forward contracts: implications for the emerging Muslim economies] by M. Shahid Ebrahima, Shafiqur Rahman
* [http://www.kantakji.com/fiqh/Files/Fatawa/15405.pdf A Review of Forward, Futures, and Options From The Shariah Perspective. “From Complexity to Simplicity”] by Nuradli Ridzwan Shah Mohd Dali
* [http://ifikr.isra.my/knowledge-base?p_p_id=1012_WAR_ifikrkbnewportlet&p_p_lifecycle=1&p_p_state=normal&p_p_mode=view&p_p_col_id=column-1&p_p_col_count=1&_1012_WAR_ifikrkbnewportlet_publicationId=210&_1012_WAR_ifikrkbnewportlet_pubCode=PRPC&_1012_WAR_ifikrkbnewportlet_javax.portlet.action=getPublicationDetail Derivatives in Islamic Finance] by Dr. Sherin Kunhibava