Instrumenty pochodne na islamskim rynku finansowym

• Autorzy: Dariusz Piotrowski

Warianty tytułu

Derivative Instruments on the Islamic Financial Market

• Języki publikacji: PL

Abstrakty

W finansach islamskich muszą być przestrzegane zasady szari'atu. Powoduje to, że znane z zachodnich rynków konstrukcje instrumentów pochodnych w większości przypadków nie mogą być wykorzystywane w krajach muzułmańskich. Finansiści, korzystając ze wsparcia uczonych - przedstawicieli szkół szari'atu, opracowują nowoczesne instrumenty finansowe oparte na tradycyjnych technikach finansów islamskich. W artykule zaprezentowano różne poglądy na temat podstawowych cech derywatów, takich jak: instrument bazowy, sposób rozliczenia transakcji, możliwość wcześniejszego zamknięcia transakcji przed terminem wygaśnięcia. Przedstawiono także obecną sytuację, w tym obowiązujące regulacje i ofertę usługową na rynku islamskich derywatów w kilku wybranych krajach. (abstrakt oryginalny)

EN

The Islamic finance sector has witnessed enormous development. This is the case with the derivatives market as well. Derivatives are now being increasingly applied to Shariah complaint products, which presents exciting opportunities for issuers and investors alike. This paper examines the Islamic viewpoint on the new instruments and shows contracts currently used in Islamic finance that may be regarded as derivatives. The validity and permissibility of these instruments appears to vary by scholar. Most scholars agree that, in principle, futures and option contracts may be compatible with Shariah principles. They suggest that derivatives should be used for hedging and arbitrage. What raises objections is the application of these instruments for purely speculative purposes. (original abstract)

Słowa kluczowe

PL

Rynki finansowe; Instrumenty pochodne

EN

Financial markets; Derivatives

• Czasopismo: Bank i Kredyt
• Rocznik: 2007
• Numer: nr 3
• Strony: 40--50

Twórcy

autor

Dariusz Piotrowski

Bibliografia

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