SHARIAH-COMPLIANT DERIVATIVE INSTRUMENTS

Obiyathulla Ismath Bacha, Ali Zhang Hengchao and Mirzet Šeho

Chapter 11 in Islamic Capital Markets:A Comparative Approach, 2025, pp 313-339 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter is designed to provide an overview of Islamic financial instruments and contracts that have derivative-like features and recently developed Shariah-compliant derivate instruments. It also discusses how these instruments could be used in risk management. The chapter concludes with a discussion of Islamic structured products. On completing the chapter, you should have a good understanding of Islamic finance instruments with derivative-like features and an appreciation of the need for the recently developed Shariah-compliant derivative instruments.

Keywords: Islamic Banking; Islamic Finance; Capital; Capital Markets; Contracts; Instrument Design; Interbank; Interbank Money Market; Islamic Interbank Money Market; Bond; Bond Market; Sukuk; Sukuk Market; Common Stocks; Equity Markets; Islamic Equities Market; Derivative Instruments; Shariah; Shariah-compliant Derivative Instrument; Exchange Rates; Foreign Exchange Market; Digital Financial Assets; Blockchain; Financial Solution; Digital Financial Solution; Conventional Capital Market; Dual Market (search for similar items in EconPapers)
JEL-codes: F3 G15 G18 G23 G24 (search for similar items in EconPapers)
Date: 2025
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