The viability hedging instruments in current application
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| date | 2014-08-17 08:13:03 |
| format | Restricted Document |
| id | 10726 |
| institution | UniSZA |
| internalnotes | Ahmad, A.A. and MA.A. Halim, 2014. The concept of hedging in islamic financial transactions. Asian Soc. Sci., 10: 42-49. Ahmad, A.A., S. Ahmad, H.M. Tahir, S. Shahimi, S. Mohamad and M.M.M. Zain, 2012. Islamic forward exchange contracts as a hedging mechanism: An analysis of wacd principle. Int. Bus. Manage., 6: 47-54. Al-Amine, M.A.B.M., 2001. Istisnac (Manufacturing Contracts) in Islamic Banking and Finance: The Law and Practice. A.S Nordeen, Kuala Lumpur, ISBN: 9830651177, Pages: 75. Al-Amine, M.A.B.M., 2008. Risk Management in Islamic Finance: An Analysis of Derivatives Instruments in Commodity Markets. 1st Edn., Brill NV, Leidin, The Netherlands, ISBN-13: 9789004152465, Pages: 337. Al-Darir, S.M.A., 1997. Al-Gharar in Contracts and Its Effects on Contemporary Transactions. Islamic Research and Training Institute, Jeddah, Saudi Arabia, ISBN: 9789960627397, Pages: 79. Al-Suwailem, S., 2006. Hedging in Islamic finance. Occasional Paper No. 10, Islamic Development Bank, Jeddah, Saudi Arabia. Ayyash, M.S.A., 2005. Commodity futures trading in islamic economics. Ph.D. Thesis, Fakulti Ekonomi dan Perniagaan, Universiti Kebangsaan Malaysia. Ayyash, M.S.A., 2008. Shariah alternatives to non-Shariah elements in modern commodity futures trading. Proceedings of the International Conference of Islamic Capital Markets, August 27-29, 2007, Jakarta, Indonesia, pp: 148-178. Bacha, O.I., 2007. Financial Derivative: Markets and Applications in Malaysia. 2nd Edn., McGraw Hill, Kuala Lumpur. Bank Negara Malaysia, 2010. Shariah Resolution in Islamic Finance. 2nd Edn., Bank Negara Malaysia, Kuala Lumpur, ISBN: 9789839586466, Pages: 226. El-Muhammady, A.H., 2008. [Law Jurisprudence and its Application to Islamic Banking Products]. 5th Edn., Aras Mega (M) Sdn. Bhd., Selangor (In Indonesian). Elgari, M.A., 1993. Towards an islamic stock market. J. Islamic Econ. Stud., 1: 1-21. Elgari, M.A., 2009. The Islamic perspective on derivatives. Proceedings of the 2nd Oxford Islamic Finance Round Table, April 15, 2009, Oxford, UK -. Hasan, A., 2008. Islamic hedge fund: Shariah issues on acceptability. Bursa Malaysia, Slaid, Kuala Lumpur. Hassoune, A. and F. Carasse, 2010. Special comment: Derivatives in Islamic finance: Examining the role of innovation in the industry. Moody's Investors Service, Global Corporate Finance, March, pp: 1-16. Iqbal, Z. and A. Mirakhor, 2007. An Introduction to Islamic Finance: Theory and Practice. John Wiley and Sons Ltd., Singapore, ISBN: 9780470821886, Pages: 332. Iqbal, Z., 1998. Financial innovations in Islamic banking. J. Islamic Bank. Fin., 15: 7-17. Islamic Fiqh Academy, 2000. Resolutions and Recommendations of the Council of the Islamic Fiqh Academy 1985-2000. 1st Edn., Islamic Development Bank, Jeddah, Saudi Arabia, Pages: 269. Kamali, M.H., 2000. Islamic Commercial Law: An Analysis of Futures and Options. Islamic Texts Society, Cambridge, ISBN: 9780946621798, Pages: 253. Kamali, M.H., 2002. Islamic Commercial Law: An Analysis of Futures and Options. Ilmiah Publishers, Kuala Lumpur, ISBN: 9789832092742, Pages: 253. Khan, M.F., 1995. Islamic Futures and their Markets with Special Reference to their Role in Developing Rural Finance. Islamic Research and Training Institute, Islamic Development Bank, Jeddah, ISBN: 9960-627-87-X, Pages: 76. Kunhibava, S., 2010. Derivatives in Islamic finance. Research Paper No. 7/2010. http://www.ipublication.isra.my/product-608418.html. Meera, A.K.M., 2004. Hedging Foreign Exchange Risk with Forwards, Futures, Options and the Gold Dinar: A Comparison Note. In: The Theft Nations-Returning to Gold, Meera, A.K.M. (Ed.). Pelanduk Publication, Selangor, ISBN: 9789679788907, pp: 144-163. Obaidullah, M., 2004. Islamic Financial Markets: Towards Greater Ethics and Efficiency. Institute of Objective Studies, New Delhi, Pages: 215. Razali, S.S., 2008. The concept of wa'd in Islamic finacial contract. Proceedings of the National Seminar on Islamic Banking and Finance, July 28-29, 2008, Kuala Lumpur -. Salehabadi, A. and M. Aram, 2002. Islamic jurisdiction of derivatives instruments. Int. J. Islamic Fin. Services, 4: 1-6. Securities Commission, 2006. Resolutions of the Securities Commission Shariah Advisory Council. 2nd Edn., Securities Commission, Kuala Lumpur, ISBN: 9789839386608, Pages: 184. Siddiqi, M.N., 2007. Economics of tawarruq: How its mafasid overwhelm the masalih. Proceedings of the Workshop on Tawarruq: A Methodological Issue in Sharia Compliance Finance, February 1, 2007, London, UK -. Sultan, S.A.M., 2008. Islamic Banking: Trend, Development and Challenges. In: Essential Readings in Islamic Finance, Adawiah, E.R. (Ed.). CERT Publication, Kuala Lumpur, pp: 89-110. Tag El-Din, S.I., 2004. The question of an Islamic futures market. IIUM J. Econ. Manage., 12: 1-20. Tag El-Din, S.I., 2005. Towards Optimal Risk Management for Profit-Sharing Financing. In: Islamic Perspectives on Wealth Creation, Iqbal, M.D. and R. Wilson (Eds.). Edinburgh University Press, Edinburgh, pp: 188-201. Vogel, F.E. and S.L. Hayes, 1998. Islamic Law and Finance: Religion, Risk and Return. BRILL, Leidin, ISBN: 9789041105479, Pages: 330. |
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| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=10726 |
| spelling | 10726 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=10726 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal UniSZA Unisza unisza image/jpeg inches 96 96 787 1422 60 60 2014-08-17 08:13:03 1422x787 4835-01-FH02-FKI-14-01076.jpg UniSZA Private Access The viability hedging instruments in current application International Business Management Hedging method is often associated with derivatives contract. However, the application of derivatives in hedging is facing some arguments and disputes among the jumhur fuqaha (majority Islamic jurists). Therefore, various alternative methods of hedging recommendations have been given by the islamic scholars. Despite these recommendations not all of them can be applied in the current financial industry. Therefore under this study, these recommendations will be divided into 2 categories, the proposed hedging method that is difficult to be applied and the proposed hedging method that can be applied. The study found that among various tools of hedging proposed, the principle of wacd is one of the most relevant and suitable method to be adopted due to its flexiblility and easy application in hedging products. 8 6 327-335 Ahmad, A.A. and MA.A. Halim, 2014. The concept of hedging in islamic financial transactions. Asian Soc. Sci., 10: 42-49. Ahmad, A.A., S. Ahmad, H.M. Tahir, S. Shahimi, S. Mohamad and M.M.M. Zain, 2012. Islamic forward exchange contracts as a hedging mechanism: An analysis of wacd principle. Int. Bus. Manage., 6: 47-54. Al-Amine, M.A.B.M., 2001. Istisnac (Manufacturing Contracts) in Islamic Banking and Finance: The Law and Practice. A.S Nordeen, Kuala Lumpur, ISBN: 9830651177, Pages: 75. Al-Amine, M.A.B.M., 2008. Risk Management in Islamic Finance: An Analysis of Derivatives Instruments in Commodity Markets. 1st Edn., Brill NV, Leidin, The Netherlands, ISBN-13: 9789004152465, Pages: 337. Al-Darir, S.M.A., 1997. Al-Gharar in Contracts and Its Effects on Contemporary Transactions. Islamic Research and Training Institute, Jeddah, Saudi Arabia, ISBN: 9789960627397, Pages: 79. Al-Suwailem, S., 2006. Hedging in Islamic finance. Occasional Paper No. 10, Islamic Development Bank, Jeddah, Saudi Arabia. Ayyash, M.S.A., 2005. Commodity futures trading in islamic economics. Ph.D. Thesis, Fakulti Ekonomi dan Perniagaan, Universiti Kebangsaan Malaysia. Ayyash, M.S.A., 2008. Shariah alternatives to non-Shariah elements in modern commodity futures trading. Proceedings of the International Conference of Islamic Capital Markets, August 27-29, 2007, Jakarta, Indonesia, pp: 148-178. Bacha, O.I., 2007. Financial Derivative: Markets and Applications in Malaysia. 2nd Edn., McGraw Hill, Kuala Lumpur. Bank Negara Malaysia, 2010. Shariah Resolution in Islamic Finance. 2nd Edn., Bank Negara Malaysia, Kuala Lumpur, ISBN: 9789839586466, Pages: 226. El-Muhammady, A.H., 2008. [Law Jurisprudence and its Application to Islamic Banking Products]. 5th Edn., Aras Mega (M) Sdn. Bhd., Selangor (In Indonesian). Elgari, M.A., 1993. Towards an islamic stock market. J. Islamic Econ. Stud., 1: 1-21. Elgari, M.A., 2009. The Islamic perspective on derivatives. Proceedings of the 2nd Oxford Islamic Finance Round Table, April 15, 2009, Oxford, UK -. Hasan, A., 2008. Islamic hedge fund: Shariah issues on acceptability. Bursa Malaysia, Slaid, Kuala Lumpur. Hassoune, A. and F. Carasse, 2010. Special comment: Derivatives in Islamic finance: Examining the role of innovation in the industry. Moody's Investors Service, Global Corporate Finance, March, pp: 1-16. Iqbal, Z. and A. Mirakhor, 2007. An Introduction to Islamic Finance: Theory and Practice. John Wiley and Sons Ltd., Singapore, ISBN: 9780470821886, Pages: 332. Iqbal, Z., 1998. Financial innovations in Islamic banking. J. Islamic Bank. Fin., 15: 7-17. Islamic Fiqh Academy, 2000. Resolutions and Recommendations of the Council of the Islamic Fiqh Academy 1985-2000. 1st Edn., Islamic Development Bank, Jeddah, Saudi Arabia, Pages: 269. Kamali, M.H., 2000. Islamic Commercial Law: An Analysis of Futures and Options. Islamic Texts Society, Cambridge, ISBN: 9780946621798, Pages: 253. Kamali, M.H., 2002. Islamic Commercial Law: An Analysis of Futures and Options. Ilmiah Publishers, Kuala Lumpur, ISBN: 9789832092742, Pages: 253. Khan, M.F., 1995. Islamic Futures and their Markets with Special Reference to their Role in Developing Rural Finance. Islamic Research and Training Institute, Islamic Development Bank, Jeddah, ISBN: 9960-627-87-X, Pages: 76. Kunhibava, S., 2010. Derivatives in Islamic finance. Research Paper No. 7/2010. http://www.ipublication.isra.my/product-608418.html. Meera, A.K.M., 2004. Hedging Foreign Exchange Risk with Forwards, Futures, Options and the Gold Dinar: A Comparison Note. In: The Theft Nations-Returning to Gold, Meera, A.K.M. (Ed.). Pelanduk Publication, Selangor, ISBN: 9789679788907, pp: 144-163. Obaidullah, M., 2004. Islamic Financial Markets: Towards Greater Ethics and Efficiency. Institute of Objective Studies, New Delhi, Pages: 215. Razali, S.S., 2008. The concept of wa'd in Islamic finacial contract. Proceedings of the National Seminar on Islamic Banking and Finance, July 28-29, 2008, Kuala Lumpur -. Salehabadi, A. and M. Aram, 2002. Islamic jurisdiction of derivatives instruments. Int. J. Islamic Fin. Services, 4: 1-6. Securities Commission, 2006. Resolutions of the Securities Commission Shariah Advisory Council. 2nd Edn., Securities Commission, Kuala Lumpur, ISBN: 9789839386608, Pages: 184. Siddiqi, M.N., 2007. Economics of tawarruq: How its mafasid overwhelm the masalih. Proceedings of the Workshop on Tawarruq: A Methodological Issue in Sharia Compliance Finance, February 1, 2007, London, UK -. Sultan, S.A.M., 2008. Islamic Banking: Trend, Development and Challenges. In: Essential Readings in Islamic Finance, Adawiah, E.R. (Ed.). CERT Publication, Kuala Lumpur, pp: 89-110. Tag El-Din, S.I., 2004. The question of an Islamic futures market. IIUM J. Econ. Manage., 12: 1-20. Tag El-Din, S.I., 2005. Towards Optimal Risk Management for Profit-Sharing Financing. In: Islamic Perspectives on Wealth Creation, Iqbal, M.D. and R. Wilson (Eds.). Edinburgh University Press, Edinburgh, pp: 188-201. Vogel, F.E. and S.L. Hayes, 1998. Islamic Law and Finance: Religion, Risk and Return. BRILL, Leidin, ISBN: 9789041105479, Pages: 330. |
| spellingShingle | The viability hedging instruments in current application |
| summary | Hedging method is often associated with derivatives contract. However, the application of derivatives in hedging is facing some arguments and disputes among the jumhur fuqaha (majority Islamic jurists). Therefore, various alternative methods of hedging recommendations have been given by the islamic scholars. Despite these recommendations not all of them can be applied in the current financial industry. Therefore under this study, these recommendations will be divided into 2 categories, the proposed hedging method that is difficult to be applied and the proposed hedging method that can be applied. The study found that among various tools of hedging proposed, the principle of wacd is one of the most relevant and suitable method to be adopted due to its flexiblility and easy application in hedging products. |
| title | The viability hedging instruments in current application |
| title_full | The viability hedging instruments in current application |
| title_fullStr | The viability hedging instruments in current application |
| title_full_unstemmed | The viability hedging instruments in current application |
| title_short | The viability hedging instruments in current application |
| title_sort | viability hedging instruments in current application |