Open AccessFinancial Engineering and Shari'a compliant (Urbun, Promise, Participation and Cooperative)
Author(s) -
Racha Ghayad,
Mohamad Ali Hamdan
Publication year - 2022
Publication title -
al-mağallaẗ al-duwaliyyaẗ li-našr al-buḥūṯ wa-al-dirāsāt
Language(s) - English
Resource type - Journals
ISSN - 2709-7064
DOI - 10.52133/ijrsp.v3.29.5
Subject(s) - islam , conceptualization , contradiction , financial instrument , strengths and weaknesses , islamic finance , business , finance , accounting , computer science , epistemology , philosophy , theology , artificial intelligence
This research present a list of instruments proposed as Islamic instruments for the management of market risks. Moreover, through the filtering of the instruments collected, resulting from this conceptualization effort, our approach has enabled us to identify certain "non- replicative" and other "replicative" instruments. We have seen how the latter: often present obvious contractual and / or financial weaknesses or limits, and above all, generally struggle to represent real Islamic derivatives, according to the very discourse of Islamic finance. Indeed, faced with such a contradiction between theory and practice, we have tried to find the possible path (s) towards such a radical change in practice, by returning to this sharing of risk.