Open AccessAnalisis Kesesuaian Instrumen Hedge Konvensional terhadap Prinsip Syarih
Author(s) -
Cipto Sembodo
Publication year - 2019
Publication title -
tasamuh: jurnal studi islam
Language(s) - English
Resource type - Journals
ISSN - 2461-0542
DOI - 10.47945/tasamuh.v11i1.172
Subject(s) - hedge , islam , business , order (exchange) , islamic finance , market risk , construct (python library) , financial instrument , accounting , financial economics , economics , finance , computer science , ecology , philosophy , theology , biology , programming language
International finance is one of the areas that starts to attract attention of Islamic financial experts. In a more globalized market, Islamic banks need to be more exposed into international market in order to facilitate export-import transactions. Consequently, the Islamic banks are dealing with exchange rate risk higher than earlier. In the conventional counterpart, the risk can be minimized through hedging instruments; thus, gaining a higher level of operational efficiency. In an absence of such instruments, this paper offers possible mechanisms that could be beneficial for further development of so-called “Islamic hedge-mechanism”.One of the offers is how mudharabah or musharakah contract can be used to construct an Islamically acceptable hedge instruments.