Table of Contents

Acknowledgements Introduction Part One: Futures Trading in the Market-Place    I. The Futures Contract    II. Uses of Futures    III. Futures Contracts and Conventional Contracts    IV. The Futures Market    V. Risk Reduction Strategies    VI. The Futures Markets of Alexandria and Kuala Lumpur Part Two: Futures Trading and Conventional Sales: A Discourse in Fiqh    Introductory Remarks    VII. The Shari'ah Perspective on Commercial Transactions (Mu'amalat)    VIII. Uncertainty and Risk-Taking (Gharar) in Islamic Law    IX. The Subject-Matter of a Sale    X. 'Sell Not What is Not With You'    XI. Sale Prior to Taking Possession (Qabd)    XII. Debt Clearance Sale (Bay' al-Dayn bi'l-Dayn)    XIII. Deferred Sale (Bay' al-Mu'ajjal)    XIV. Speculation or Gambling    XV. A Summary of Modern Opinion Part Three: Options    Introductory Remarks    XVI. A Market Analysis of Options    XVII. Options (al-Ikhtiyarat) from the Islamic Legal Perspective Conclusion Glossary Bibliography Index

About the Author

Prof Mohammad H. Kamali is Chairman of the International Institute of Advanced Islamic Studies, Kuala Lumpur, Malaysia. He was formerly Professor of Law at the International Islamic University Malaysia, where he taught Islamic law and jurisprudence for over twenty years.

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