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Paper: Shariah Compatible Futures

Sharia Compatible Futures

Abdul Rahim Al-Saati
Associate Professor
Economics Department
King Abdulaziz University
Jeddah – Saudi Arabia

With thanks to Charles Stromeyer for highlighting the paper.


1 comment:

  1. I'm sorry but I completely fail to see the purpose of this future. It is a regular futures contract in "Islamic" clothing? Why burden ourselves with reading this justification?

    The salaam contract performs a lot of the same hedging needs.

    Why bother calling it a SCF shariah compliant futures contract at all? It seems such an indignity to rename regular futures as shariah compliant when in all reality, it is exactly the same!

    Might as well say banks pay Shariah-compliant interest on our deposits. It is entirely disingenous.

    I really think that Hashim Kamali's book on the justification of regular futures is a much more erudite and thoughtful piece. Unless I have very much missed something from this ALREADY OLD paper, I feel it must be sent right to the dust bin.