Continuation
The
author continues:
Given
the important role of derivatives in the:
§ management;
§ and
allocation
of
risk and in financial innovation, some Islamic economists are making an effort
to structure Shari’ah compliant financial contracts that are similar to
derivatives.
They
argue that some Islamic contracts, like:
o
salam;
o
istisna;
o
and others
contracts
have certain features in common with derivatives, for example:
o
futures;
o
or forward contracts.
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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