Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur

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internalnotes Abdul Rahim al-Saati, ‘Sharia Compatible Futures’, J.KAU:Islamic Econ, 15 (2002): 3-25. Abdul Rahim al-Saati, ‘The Permissible Gharar (Risk) in Classical Islamic Jurisprudence’, J.KAU: Islamic Econ, 16/2 (2003): 3-19. Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Al-Ma’yir al-Syar’iyyah 1431H-2010 (Manama: AAOIFI, 2010). Ahmad Kameel Mydin Meera, ‘Isu Praktikal Mengenai Pasaran Derivatif’, Kertas Kerja Seminar Pelaburan Beretika Menurut Islam: Satu cabaran di Institut Kefahaman Islam Malaysia, Kuala Lumpur, 13-14 Januari 2001. Ahmad Raiyan, Fiqh al-Buyu’ al-Munhiya Anha Ma‘a Tatbiqatuha al-Hadithah fi al-Masarif al-‘Islamiyyah, (Jeddah: al-Bank al-‘Islami li al-Tanmih al-Ma‘had al-Islami li al-Buhuth wa al-Tadrib, 2003). Al-Darir, Siddiq Muhammad al-Amin, al-Gharar in Contracts and Its Effect on Contemporary Transactions (Jeddah: Islamic Research and Training Institute, Islamic Development Bank, 1997). Ali Salehabadi & Mohammad Aram, ‘Islamic Justification of Derivative Instruments’, International Journal of Islamic Financial Services, 4/3 (Oktober-Disember 2002). Andreas Jobst, ‘Risk Management of Islamic Finance Instruments’, www.qfinance.com, 10 Mei 2010. Chance, Don M & Brooks, Robert, An Introduction to Derivatives and Risk Management (Mason, OH: Thomson/South-Western, 2007). Danila, Nevi & Jeffers Agatha E., ‘Derivatives: An Islamic Perspective’,Journal of International Finance and Economics, 9/3 (2009): 83-90. Hossein Askari et. al, ‘Financial Engineering, Derivatives and Financial Stability’, dalam The Stability Of Islamic Finance: Creating a Resilient Financial Environment For a Secure Future (Singapura: John Wiley & Sons (Asia) Pte. Ltd, 2010). Hussin Salamon, ‘Speculation in The Stock Market From an Islamic Perspective’, Review of Islamic Economics, 9 (2000): 103-126. Loader, David, Clearing and Settlement of Derivatives (Oxford:Elsevier/Butterworth-Heineman, 2005). Majma’ al-Fiqh al-Islami, Majjalat Majma’ al-Fiqh al-Islami (Jeddah: Majma’ al-Fiqh al-Islami, 1/7, 1992). Mohamed Ali El-Gari, ‘Towards An Islamic Stock Market’, Islamic Economics Studies, 1/1 (Disember 1993): 1-20 Mohammad Hashim Kamali, Islamic Commercial Law: an Analysis of Futures and Options (Kuala Lumpur: Ilmiah Publishers, 2002). Mohammad Hashim Kamali, ‘The Permissibility and Potential of Developing Islamic Derivatives as Financial Instruments’, IIUM Journal of Economics & Management, 7/2 (1999): 73-86. Mohammad Hashim Kamali, ‘Prospects of an Islamic Derivative Market in Malaysia’, Thunderbird International Business Review, 42/(4/5)(1999): 523-544 Mohammed Obaidullah, ‘Financial Engineering With Islamic Options’, Islamic Economic Studies, 6/1 (November 1998): 73-103. Mohammed Obaidullah, ‘Islamic Risk Management: Towards Greater Ethics and Efficiency’, International Journal of Islamic Financial Services, 3/4 (2000). Mohammad Obaidullah, ‘Regulation of The Stock Market in an Islamic Economy’, dalam Munawar Iqbal, Islamic Banking and Finance: Current Developments in Theory and Practices (UK: Islamic Foundation (UK), 2001). Mohammed Obaidullah, ‘Financial Contracting in Currency Markets: An Islamic Evaluation’, International Journal of Islamic Financial Services, 3/2 (Oktober-December 2001). Mohd Daud Bakar, ‘Pasaran Hadapan Komoditi Minyak Sawit Mentah:Perspektif Syariah’, Kertas Kerja Seminar Pakar Syari’ah di Pan Pacific Legacy, Melaka, 30 Oktober 1998. Mohd Daud Bakar, ‘Hedging Instruments in Islamic Finance’, Kertas Kerja 7thconference of the Shariah Boards of Islamic Financial Institutions The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain, 24 -27 Mei 2008. Muhammad Akram Khan, ‘Commodity Exchangee and Stock Exchange in An Islamic Economy’, Journal of Islamic Economics, 1/2 (Julai 1988): 31-55 Muhammad Akram Khan, ‘Commodity Excahange and Stock Exchange in an Islamic Economy’, dalam Sheikh Ghazali Sheikh Abod et.al (eds), An Introduction to Islamic Economics & Finance (Kuala Lumpur: Cert Publications Sdn. Bhd, 2008). Muhammad al-Bashir Muhammad al-Amine, Risk Management in Islamic Finance: an Analysis of Derivatives Instruments in Commodity Markets(Boston: Brill’s Arab and Islamic Laws Series, 2008). Muhammad Umar Chapra, ‘Towards an Islamic Financial System’, Journal of Islamic Economics, 1/2 (Julai 1988): 1-30. M. Fahim Khan, Islamic Futures and Their Markets: With Special References to their Role in Developing Rural Financial Market (Jeddah: Islamic Research and Training Institute, Islamic Development Bank, 1995) Obiyathullah Ismath Bacha, ‘Derivative Instruments and Islamic Finance: Some Thoughts For A Reconsiderations’, International Journal of Islamic Financial Services,1/1, April-Jun (1999): 1-34. Obiyathulla Ismath Bacha, Financial Derivatif: Markets and Applications in Malaysia (Kuala Lumpur: McGraw-Hill, 2007). Rafiq Yunus al-Misri, ‘Speculation between Proponents and Opponents’, Islamic Econ, 20/1 (2007): 43-52. Sami al-Suwailem, ‘Towards an Objective Measure of Gharar in Exchange’, Islamic Economic Studies, 7/1&2 (Oktober 1999, April 2000): 62-102. Seif I. Tag El-Din, ‘The Question of an Islamic Futures Market’, IIUM Journal of Economics and Management, 2/1 (2004): 1-19. Shahnaz Naugton & Tony Naughton, Religion, ‘Ethics and Stock Trading: The Case Of an Islamic Equities Market’, Journal Business Ethics, 23 (2000): 145-159. Smolarski, Jan, Schapek, Michael & Mohammad Iqbal Tahir, ‘Permissibility and Use of Options for Hedging Purpose in Islamic Finance’, Thunderbird International Business Review, 48/3 (Mei- Jun 2006): 425-443. Suruhanjaya Sekuriti, Keputusan Majlis Penasihat Syariah Suruhanjaya Sekuriti (Kuala Lumpur, Suruhanjaya Sekuriti, 2006). Strong, Robert A., Derivatives: An Introduction (Cincinnati, Ohio: South-Western, 2002). Usam ‘Abu al-Nasr, Aswaq al-‘Awraq al-Maliyah (al-Bursah) fi Mizan al-Fiqh al-Islami (Kaherah: Dar al-Nashr li al-Jami‘at, 2006). Usmani, M. T., ‘What Shari’ah Experts Say’, International Journal of Islamic Financial Services, 1/1 (April-Jun 1999): 1-3. Tamer, Sami., The Islamic Financial System: A Critical Analysis and Suggestions for Improving its Efficiency (Frankfurt: Peter Lang GmBH, 2005). Wafica Ghoul, ‘Risk Management and Islamic Finance: Never The Twain Shall Meet?’, Journal of Investing, 17/3 (2008): 96-106. Zakariya Salamah ‘Isa Satnawi, al-Athar al-Iqtisadiyah li al-Aswaq al-Awraq al-Maliyah min Manzur al-Iqtisad al-Islami(Urdun: Dar al-Nafais, 2009). Temubual. Azahari Abdul Kudus. Ketua Bahagian Perbendaharaan. Kuwait Finance House (Malaysia) Berhad. Temu bual pada 15 November 2011. Aznan Hassan. Penasihat Bursa Malaysia, Bursa Malaysia. Temu bual pada 26 Oktober 2011.
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spelling 7489 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=7489 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal Deflate/Inflate 900 1440x900 1440 image/png 2024-09-24 16:53 2980-01-FH02-FKI-14-00421.png UniSZA Private Access Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur Jurnal Syariah, UM Derivatives ore a financial instrument that derives its value from underlying asset. This article reviews shariah issues in derivatives contract from the Islamic perspective. Islamic derivatives contract should be free from any elements prohibited by Islam such as ribo. moysir (gambling), and gharar (excessive uncertainty). Muslim scholars adopted different approach in discussing the issues of derivatives contract. A study was conducted using data collection method from secondary sources namely journals. seminar proceedings. and books to collect the date comprising scholars' views in derivatives contract. The data were then analysed using thematic approach. It was found that the difference in opinion among scholars is due to the differences in their understanding and interpretation of al-hadith and in their understanding of derivatives contract itself. 19 2 163-186 Abdul Rahim al-Saati, ‘Sharia Compatible Futures’, J.KAU:Islamic Econ, 15 (2002): 3-25. Abdul Rahim al-Saati, ‘The Permissible Gharar (Risk) in Classical Islamic Jurisprudence’, J.KAU: Islamic Econ, 16/2 (2003): 3-19. Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Al-Ma’yir al-Syar’iyyah 1431H-2010 (Manama: AAOIFI, 2010). Ahmad Kameel Mydin Meera, ‘Isu Praktikal Mengenai Pasaran Derivatif’, Kertas Kerja Seminar Pelaburan Beretika Menurut Islam: Satu cabaran di Institut Kefahaman Islam Malaysia, Kuala Lumpur, 13-14 Januari 2001. Ahmad Raiyan, Fiqh al-Buyu’ al-Munhiya Anha Ma‘a Tatbiqatuha al-Hadithah fi al-Masarif al-‘Islamiyyah, (Jeddah: al-Bank al-‘Islami li al-Tanmih al-Ma‘had al-Islami li al-Buhuth wa al-Tadrib, 2003). Al-Darir, Siddiq Muhammad al-Amin, al-Gharar in Contracts and Its Effect on Contemporary Transactions (Jeddah: Islamic Research and Training Institute, Islamic Development Bank, 1997). Ali Salehabadi & Mohammad Aram, ‘Islamic Justification of Derivative Instruments’, International Journal of Islamic Financial Services, 4/3 (Oktober-Disember 2002). Andreas Jobst, ‘Risk Management of Islamic Finance Instruments’, www.qfinance.com, 10 Mei 2010. Chance, Don M & Brooks, Robert, An Introduction to Derivatives and Risk Management (Mason, OH: Thomson/South-Western, 2007). Danila, Nevi & Jeffers Agatha E., ‘Derivatives: An Islamic Perspective’,Journal of International Finance and Economics, 9/3 (2009): 83-90. Hossein Askari et. al, ‘Financial Engineering, Derivatives and Financial Stability’, dalam The Stability Of Islamic Finance: Creating a Resilient Financial Environment For a Secure Future (Singapura: John Wiley & Sons (Asia) Pte. Ltd, 2010). Hussin Salamon, ‘Speculation in The Stock Market From an Islamic Perspective’, Review of Islamic Economics, 9 (2000): 103-126. Loader, David, Clearing and Settlement of Derivatives (Oxford:Elsevier/Butterworth-Heineman, 2005). Majma’ al-Fiqh al-Islami, Majjalat Majma’ al-Fiqh al-Islami (Jeddah: Majma’ al-Fiqh al-Islami, 1/7, 1992). Mohamed Ali El-Gari, ‘Towards An Islamic Stock Market’, Islamic Economics Studies, 1/1 (Disember 1993): 1-20 Mohammad Hashim Kamali, Islamic Commercial Law: an Analysis of Futures and Options (Kuala Lumpur: Ilmiah Publishers, 2002). Mohammad Hashim Kamali, ‘The Permissibility and Potential of Developing Islamic Derivatives as Financial Instruments’, IIUM Journal of Economics & Management, 7/2 (1999): 73-86. Mohammad Hashim Kamali, ‘Prospects of an Islamic Derivative Market in Malaysia’, Thunderbird International Business Review, 42/(4/5)(1999): 523-544 Mohammed Obaidullah, ‘Financial Engineering With Islamic Options’, Islamic Economic Studies, 6/1 (November 1998): 73-103. Mohammed Obaidullah, ‘Islamic Risk Management: Towards Greater Ethics and Efficiency’, International Journal of Islamic Financial Services, 3/4 (2000). Mohammad Obaidullah, ‘Regulation of The Stock Market in an Islamic Economy’, dalam Munawar Iqbal, Islamic Banking and Finance: Current Developments in Theory and Practices (UK: Islamic Foundation (UK), 2001). Mohammed Obaidullah, ‘Financial Contracting in Currency Markets: An Islamic Evaluation’, International Journal of Islamic Financial Services, 3/2 (Oktober-December 2001). Mohd Daud Bakar, ‘Pasaran Hadapan Komoditi Minyak Sawit Mentah:Perspektif Syariah’, Kertas Kerja Seminar Pakar Syari’ah di Pan Pacific Legacy, Melaka, 30 Oktober 1998. Mohd Daud Bakar, ‘Hedging Instruments in Islamic Finance’, Kertas Kerja 7thconference of the Shariah Boards of Islamic Financial Institutions The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain, 24 -27 Mei 2008. Muhammad Akram Khan, ‘Commodity Exchangee and Stock Exchange in An Islamic Economy’, Journal of Islamic Economics, 1/2 (Julai 1988): 31-55 Muhammad Akram Khan, ‘Commodity Excahange and Stock Exchange in an Islamic Economy’, dalam Sheikh Ghazali Sheikh Abod et.al (eds), An Introduction to Islamic Economics & Finance (Kuala Lumpur: Cert Publications Sdn. Bhd, 2008). Muhammad al-Bashir Muhammad al-Amine, Risk Management in Islamic Finance: an Analysis of Derivatives Instruments in Commodity Markets(Boston: Brill’s Arab and Islamic Laws Series, 2008). Muhammad Umar Chapra, ‘Towards an Islamic Financial System’, Journal of Islamic Economics, 1/2 (Julai 1988): 1-30. M. Fahim Khan, Islamic Futures and Their Markets: With Special References to their Role in Developing Rural Financial Market (Jeddah: Islamic Research and Training Institute, Islamic Development Bank, 1995) Obiyathullah Ismath Bacha, ‘Derivative Instruments and Islamic Finance: Some Thoughts For A Reconsiderations’, International Journal of Islamic Financial Services,1/1, April-Jun (1999): 1-34. Obiyathulla Ismath Bacha, Financial Derivatif: Markets and Applications in Malaysia (Kuala Lumpur: McGraw-Hill, 2007). Rafiq Yunus al-Misri, ‘Speculation between Proponents and Opponents’, Islamic Econ, 20/1 (2007): 43-52. Sami al-Suwailem, ‘Towards an Objective Measure of Gharar in Exchange’, Islamic Economic Studies, 7/1&2 (Oktober 1999, April 2000): 62-102. Seif I. Tag El-Din, ‘The Question of an Islamic Futures Market’, IIUM Journal of Economics and Management, 2/1 (2004): 1-19. Shahnaz Naugton & Tony Naughton, Religion, ‘Ethics and Stock Trading: The Case Of an Islamic Equities Market’, Journal Business Ethics, 23 (2000): 145-159. Smolarski, Jan, Schapek, Michael & Mohammad Iqbal Tahir, ‘Permissibility and Use of Options for Hedging Purpose in Islamic Finance’, Thunderbird International Business Review, 48/3 (Mei- Jun 2006): 425-443. Suruhanjaya Sekuriti, Keputusan Majlis Penasihat Syariah Suruhanjaya Sekuriti (Kuala Lumpur, Suruhanjaya Sekuriti, 2006). Strong, Robert A., Derivatives: An Introduction (Cincinnati, Ohio: South-Western, 2002). Usam ‘Abu al-Nasr, Aswaq al-‘Awraq al-Maliyah (al-Bursah) fi Mizan al-Fiqh al-Islami (Kaherah: Dar al-Nashr li al-Jami‘at, 2006). Usmani, M. T., ‘What Shari’ah Experts Say’, International Journal of Islamic Financial Services, 1/1 (April-Jun 1999): 1-3. Tamer, Sami., The Islamic Financial System: A Critical Analysis and Suggestions for Improving its Efficiency (Frankfurt: Peter Lang GmBH, 2005). Wafica Ghoul, ‘Risk Management and Islamic Finance: Never The Twain Shall Meet?’, Journal of Investing, 17/3 (2008): 96-106. Zakariya Salamah ‘Isa Satnawi, al-Athar al-Iqtisadiyah li al-Aswaq al-Awraq al-Maliyah min Manzur al-Iqtisad al-Islami(Urdun: Dar al-Nafais, 2009). Temubual. Azahari Abdul Kudus. Ketua Bahagian Perbendaharaan. Kuwait Finance House (Malaysia) Berhad. Temu bual pada 15 November 2011. Aznan Hassan. Penasihat Bursa Malaysia, Bursa Malaysia. Temu bual pada 26 Oktober 2011.
spellingShingle Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
summary Derivatives ore a financial instrument that derives its value from underlying asset. This article reviews shariah issues in derivatives contract from the Islamic perspective. Islamic derivatives contract should be free from any elements prohibited by Islam such as ribo. moysir (gambling), and gharar (excessive uncertainty). Muslim scholars adopted different approach in discussing the issues of derivatives contract. A study was conducted using data collection method from secondary sources namely journals. seminar proceedings. and books to collect the date comprising scholars' views in derivatives contract. The data were then analysed using thematic approach. It was found that the difference in opinion among scholars is due to the differences in their understanding and interpretation of al-hadith and in their understanding of derivatives contract itself.
title Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
title_full Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
title_fullStr Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
title_full_unstemmed Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
title_short Isu-Isu Syariah dalam Kontrak Derivatif: Satu Sorotan Literatur
title_sort isu-isu syariah dalam kontrak derivatif: satu sorotan literatur