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Islamic Commercial Law
''Islamic Commercial Law'' by Mohammad Hashim Kamali, professor of law at the International Islamic University, Malaysia, is an analysis of options and futures contracts as trading tools from the point of view of shariah. The book is divided into three parts: the first describes derivatives trading in its nuts-and-bolts in secular terms. The second part looks at the issue of whether futures trading is permissible in Islamic law, and concludes that it is, due to the principle of maslaha Maslaha or maslahah ( ar, مصلحة, lit=public interest) is a concept in shari'ah ( Islamic divine law) regarded as a basis of law.I. Doi, Abdul Rahman. (1995). "Mașlahah". In John L. Esposito. ''The Oxford Encyclopedia of the Modern Islamic Wo ..., i.e. consideration of the public interest. The third part of the book draws the same conclusion with regard to options. Islamic literature Islamic economic jurisprudence {{law-book-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammad Hashim Kamali
Mohammad Hashim Kamali (Pashto/Dari: ; born 7 February 1944) is an Afghan Islamic scholar and former professor of law at the International Islamic University of Malaysia. He taught Islamic law and jurisprudence between 1985 and 2004. One author has described him as "the most widely read living author on Islamic law in the English language." Education Kamali studied his BA at University of Kabul and completed his LLM. in comparative law from The London School of Economics and Political Science, and a PhD in Islamic and Middle Eastern law at the University of London, 1969–1976. Academic career Kamali served as Professor of Islamic law and jurisprudence at the International Islamic University Malaysia, and also as Dean of the International Institute of Islamic Thought & Civilisation (ISTAC) from 1985 to 2007. He currently is the chairman of the ''Institute for Law and Society'' (ILSAF).https://www.ilsaf.org/ Institute for Law and Society. Retriebed 7 November 2022. Publications ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Islamic University Malaysia
The International Islamic University Malaysia ( ms, Universiti Islam Antarabangsa Malaysia; Jawi alphabet, Jawi: اونيۏرسيتي اسلام انتارابڠسا مليسيا; ar, الجامعة الإسلامية العالمية بماليزيا), also known as IIUM, is a public university in Malaysia. Headquartered in Gombak District, Gombak, Selangor, IIUM has six other campuses all over Malaysia: two medical-centric campuses and a Centre for Foundation Studies in Gambang, Pahang, two city campuses in Kuala Lumpur, and a language and tourism campus in Pagoh, Johor. The university is sponsored by eight governments and the Organisation of the Islamic Conference, Organisation of the Islamic Cooperation (OIC). It is distinct from the International Islamic University Islamabad, Pakistan and International Islamic University Chittagong, Bangladesh. The university was established on 23 May 1983 and founded upon Islamic principles. Islamic values are inculcated into all discip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Malaysia. Peninsular Malaysia shares a land and maritime Malaysia–Thailand border, border with Thailand and Maritime boundary, maritime borders with Singapore, Vietnam, and Indonesia. East Malaysia shares land and maritime borders with Brunei and Indonesia, and a maritime border with the Philippines and Vietnam. Kuala Lumpur is the national capital, the country's largest city, and the seat of the Parliament of Malaysia, legislative branch of the Government of Malaysia, federal government. The nearby Planned community#Planned capitals, planned capital of Putrajaya is the administrative capital, which represents the seat of both the Government of Malaysia#Executive, executive branch (the Cabine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Option (finance)
In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction. Thus, they are also a form of asset and have a valuation that may depend on a complex relationship between underlying asset price, time until expiration, market volatility, the risk-free rate of interest, and the strike price of the option. Options may be traded between private parties in ''over-the-counter'' (OTC) transactions, or they may be exchange-traded in live, public markets in the form of standardized contracts. Definition and application An option is a contract that allows the holder the right to buy or sell an underlying asset or financial instrument at a specified strike ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Futures Contract
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the ''forward price''. The specified time in the future when delivery and payment occur is known as the ''delivery date''. Because it derives its value from the value of the underlying asset, a futures contract is a derivative. Contracts are traded at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be the long position holder and the selling party is said to be the short position holder. As both parties risk their counter-party reneging if the price goes against them, the contract may involve both parties lodging as security a margin of the value of the contract with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shariah
Sharia (; ar, شريعة, sharīʿa ) is a body of religious law that forms a part of the Islamic tradition. It is derived from the religious precepts of Islam and is based on the sacred scriptures of Islam, particularly the Quran and the Hadith. In Arabic, the term ''sharīʿah'' refers to God's immutable divine law and is contrasted with ''fiqh'', which refers to its human scholarly interpretations. In the historical course, fiqh sects have emerged that reflect the preferences of certain societies and state administrations on behalf of people who are interested in the theoretical (method) and practical application (Ahkam / fatwa) studies of laws and rules, but sharia has never been a valid legal system on its own. It has been used together with " customary (Urf) law" since Omar or the Umayyads. It may also be wrong to think that the Sharia, as a religious argument or belief, is entirely within or related to Allah's commands and prohibitions. Several non-graded crimes are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be used for a number of purposes, including insuring against price movements ( hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the Chicago Mercantile Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Futures Trading
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the ''forward price''. The specified time in the future when delivery and payment occur is known as the ''delivery date''. Because it derives its value from the value of the underlying asset, a futures contract is a derivative. Contracts are traded at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be the long position holder and the selling party is said to be the short position holder. As both parties risk their counter-party reneging if the price goes against them, the contract may involve both parties lodging as security a margin of the value of the contract with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maslaha
Maslaha or maslahah ( ar, مصلحة, lit=public interest) is a concept in shari'ah ( Islamic divine law) regarded as a basis of law.I. Doi, Abdul Rahman. (1995). "Mașlahah". In John L. Esposito. ''The Oxford Encyclopedia of the Modern Islamic World''. Oxford: Oxford University Press. It forms a part of extended methodological principles of Islamic jurisprudence (''uṣūl al-fiqh'') and denotes prohibition or permission of something, according to necessity and particular circumstances, on the basis of whether it serves the public interest of the Muslim community (''ummah''). In principle, ''maslaha'' is invoked particularly for issues that are not regulated by the Qur'an, the '' sunnah'' (the teachings and practices of the Islamic prophet Muhammad), or '' qiyas'' (analogy). The concept is acknowledged and employed to varying degrees depending on the jurists and schools of Islamic jurisprudence ('' maddhab''). The application of the concept has become more important in modern times ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Literature
Islamic literature is literature written by Muslim people, influenced by an Islamic cultural perspective, or literature that portrays Islam. It can be written in any language and portray any country or region. It includes many literary forms including ''adabs'', a non-fiction form of Islamic advice literature, and various fictional literary genres. In the 2000s academics have moved beyond evaluations of differences between Islamic and non-Islamic literature to studies such as comparisons of the novelization of various contemporary Islamic literatures and points of confluency with political themes, such as nationalism. Literary genres Fiction The best known fiction from the Islamic world is ''The Book of One Thousand and One Nights'' (''Arabian Nights''), a compilation of many earlier folk tales set in a frame story of being told serially by the Persian Queen Scheherazade. The compilation took form in the 10th century and reached its final form by the 14th century; the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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