نحو مشتقات مالية إسلامية لإدارة المخاطر التجارية

Abstract EN

This paper aims at initiating serious discussion on hedging contracts between economists and Fuqaha (Muslim jurists).

It underlines the importance of managing commercial risks faced by productive and financial projects by hedging against risks through shariah compatible modes.

The paper proposes contracts based on adapting those currently in use in the financial markets, by introducing some modifications and adding certain conditions.

These hopefully make the contracts acceptable to Islamic jurists without losing their economic role in hedging.

Also they are comparable to some well known shariah contracts.

These are: forwards, futures, options and swaps.