Islamic commercial law : an analysis of futures and options
Author(s)
Bibliographic Information
Islamic commercial law : an analysis of futures and options
Islamic Texts Society, 2000
- : cloth
Available at 1 libraries
-
Library, Institute of Developing Economies, Japan External Trade Organization図
: clothG||347.7||I116116543
Note
Description based on: 2002 printing
Includes bibliographical references (p. [227]-234) and index
Description and Table of Contents
Description
'Islamic Commercial Law: An Analysis of Futures and Options' focuses on options and futures as trading tools and explores their validity from an Islamic point of view. Futures and options are a completely new phenomenon which has no parallel in Islamic commercial law. After reviewing the existing rules of Islamic law of contract and verifying their relevance or otherwise to futures trading, the author, Professor M H Kamali, advances a new perspective on the issue of futures and options based on an interpretation of the Qur'an and the Sunna and referring to the principle of consideration of public interest (maslaha) as enshrined in the Shari'a. Islamic Commercial Law consists of three parts. Part One is devoted to the description of futures trading and the understanding of operational procedures of futures and futures markets; Part Two investigates the issue of permissibility of futures trading in Islamic law and the underlying questions of risk-taking and speculation, which are of central concern to the topic. Part Three is devoted to an analysis of options. This work will be of use to anyone working on Islamic law, comparative law or working in Islamic banking.
Table of Contents
- Part One - Futures Trading in the Market Place: The Futures Contract
- Uses of Futures
- Futures Contracts and Conventional Contracts
- The Futures Market
- Risk Reduction Strategies
- The Futures Markets of Alexandria and Kuala Lumpur. Part Two - Futures Trading - A Discourse in Fiqh: The Shari'a Perspective on Commercial Transactions ('Mu'amalat')
- Uncertainty and Risk-Taking (Gharar)
- The Subject-Matter of a Sale
- 'Sell Not What Is Not With You'
- Sale Prior to Taking Possession ('Qabd')
- Debt Clearance Sale ('Bay' al-Dayn bi'l Dayn')
- Deferred Sale ('Bay' al-Mu'ajjal')
- Speculation or Gambling
- A Summary of Modern Opinion. Part Three - Options: A Market Analysis of Options
- Options ('al-Ikhtiyarat') from the Islamic Legal Perspective.
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