Application of shariah principles in Islamic foreign exchange options
In accordance with the dire need for derivative-like products, Islamic financial institutions eventually initiated their efforts to design a product with suitable contracts. Option-like Islamic products began to be offered by Islamic financial institutions a few years ago. Today, the products have p...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2016
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| Subjects: | |
| Online Access: | http://eprints.um.edu.my/15922/1/Nor_Fahimah_%26_Ahmad_Sufian-kertas_kerja_penuh.pdf |
| _version_ | 1796946977665056768 |
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| author | Nor Fahimah, M.R. Ahmad Sufian, C.A. |
| author_facet | Nor Fahimah, M.R. Ahmad Sufian, C.A. |
| author_sort | Nor Fahimah, M.R. |
| collection | UM |
| description | In accordance with the dire need for derivative-like products, Islamic financial institutions eventually initiated their efforts to design a product with suitable contracts. Option-like Islamic products began to be offered by Islamic financial institutions a few years ago. Today, the products have proven to gain wider recognition, and several contracts are being used to construct an option-like effect and outcome. This study aims to evaluate the compliance of Islamic foreign exchange options with shariah principles. This study involves the collection and analysis of primary and secondary data from various sources. It also undertakes content analysis of the rulings of jurisprudence scholars on several shariah principles. This study found that this Islamic FX option is still debatable on its permissibility from shariah perspective. |
| first_indexed | 2024-03-06T05:39:55Z |
| format | Conference or Workshop Item |
| id | um.eprints-15922 |
| institution | Universiti Malaya |
| language | English |
| last_indexed | 2024-03-06T05:39:55Z |
| publishDate | 2016 |
| record_format | dspace |
| spelling | um.eprints-159222016-06-20T00:20:13Z http://eprints.um.edu.my/15922/ Application of shariah principles in Islamic foreign exchange options Nor Fahimah, M.R. Ahmad Sufian, C.A. Islam H Social Sciences (General) In accordance with the dire need for derivative-like products, Islamic financial institutions eventually initiated their efforts to design a product with suitable contracts. Option-like Islamic products began to be offered by Islamic financial institutions a few years ago. Today, the products have proven to gain wider recognition, and several contracts are being used to construct an option-like effect and outcome. This study aims to evaluate the compliance of Islamic foreign exchange options with shariah principles. This study involves the collection and analysis of primary and secondary data from various sources. It also undertakes content analysis of the rulings of jurisprudence scholars on several shariah principles. This study found that this Islamic FX option is still debatable on its permissibility from shariah perspective. 2016-04 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.um.edu.my/15922/1/Nor_Fahimah_%26_Ahmad_Sufian-kertas_kerja_penuh.pdf Nor Fahimah, M.R. and Ahmad Sufian, C.A. (2016) Application of shariah principles in Islamic foreign exchange options. In: International Conference on Accounting, Management, Economics and Social Sciences , 30 April 2016, Jakarta, Indonesia. |
| spellingShingle | Islam H Social Sciences (General) Nor Fahimah, M.R. Ahmad Sufian, C.A. Application of shariah principles in Islamic foreign exchange options |
| title | Application of shariah principles in Islamic foreign exchange options |
| title_full | Application of shariah principles in Islamic foreign exchange options |
| title_fullStr | Application of shariah principles in Islamic foreign exchange options |
| title_full_unstemmed | Application of shariah principles in Islamic foreign exchange options |
| title_short | Application of shariah principles in Islamic foreign exchange options |
| title_sort | application of shariah principles in islamic foreign exchange options |
| topic | Islam H Social Sciences (General) |
| url | http://eprints.um.edu.my/15922/1/Nor_Fahimah_%26_Ahmad_Sufian-kertas_kerja_penuh.pdf |
| work_keys_str_mv | AT norfahimahmr applicationofshariahprinciplesinislamicforeignexchangeoptions AT ahmadsufianca applicationofshariahprinciplesinislamicforeignexchangeoptions |