Derivatives in Islamic Finance: Examining the Market Risk Management Framework by Sherif AyoubDerivatives in Islamic Finance: Examining the Market Risk Management Framework by Sherif Ayoub

Derivatives in Islamic Finance: Examining the Market Risk Management Framework

bySherif Ayoub

Paperback | September 14, 2014

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The Islamic finance industry faces the challenging task of attempting to reconcile the risk management demands of business entities with the difficulties posed by the seemingly rigid stance taken by some Shari'ah scholars over hedging practices.Offering a fresh perspective, Sherif Ayoub confronts the challenge by reformulating how we might think about the theorisation of economic matters in the Islamic faith. He also considers the associated perceptions of permissibility that have until now been confined to the legal sphere, with a focuson contractual elements.Ayoub sheds light on the way the Islamic finance industry conceptualises the role of financial instruments. Paying particular attention to derivatives in a market risk management framework that adheres to the objectives of Islamic jurisprudence, readers will come to understand the issues surroundingthe avoidance of Riba (usury), Gharar (excessive uncertainty) and Maysir (gambling).
Sherif Ayoub works at Islamic Development Bank with an advisory responsibility over treasury, investments, and the development of the Islamic finance industry. He acquired his PhD from the University of Edinburgh having been previously educated at Columbia University and Baldwin Wallace University. He has also served as a Visiting Fel...
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Title:Derivatives in Islamic Finance: Examining the Market Risk Management FrameworkFormat:PaperbackDimensions:224 pages, 8.39 × 5.39 × 0.79 inPublished:September 14, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0748695702

ISBN - 13:9780748695706

Reviews

Editorial Reviews

"Calculated risk-taking and preservation of wealth are two central pillars of Islamic economics and finance. Balancing the two while working within the global financial markets is a daunting challenge. Sherif Ayoub has done an excellent job of discussing and presenting a variety of views onthese oft-competing dimensions. His book will significantly contribute to spurring a new wave of innovative market risk management techniques that conform to the body of rules within Shari'ah as well as having productive market utility." --Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group