Financial Engineering and Islamic Contracts [Hardcover]

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.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

'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

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 HAQUElóm