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ISLAMIC DERIVATIVES ,[object Object],[object Object]
INTRODUCTION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Islamic Methodology towards Innovation Permanent (Al-Thawabit)   Changeable   ( Al-Mutaghayyarat )
ISLAMIC DERIVATIVES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Hedging Products   ,[object Object],[object Object],[object Object],[object Object]
PROFIT RATE SWAP ,[object Object],[object Object],[object Object],[object Object]
ISLAMIC PROFIT RATE SWAP ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE DYNAMICS OF IPRS ,[object Object],Receives fixed returns Financial Liabilities Financial Assets Islamic Swap Counter Party Receives floating profit rate Pays floating obligations Pays fixed profit rate
[object Object],ABC Islamic Swap Counter Party ASSET STEP 1   ABC sells Asset to Islamic Swap counter Party at notional principal of RM500k.   STEP 2 Islamic Swap Counter Party sells Asset to ABC at notional principal RM500k  + mark-up based on fixed profit rate STEP 3 Notional principal amount of RM500k owed by both ABC and Islamic Swap party to each other is set off STEP 4  The net difference i.e. the fixed profit rate in Step 2 is paid to Islamic Swap counter Party by ABC at the agreed interval payment date of say 6 month
[object Object],STEP 1   ABC sells Asset to Islamic Swap counter Party at notional principal RM500k + floating profit rate.  STEP 2 Islamic Swap counter Party sells Asset to ABC at notional principal of RM500k.   STEP 3 Notional principal amount of RM500k owed by both ABC and Islamic Swap party to each other is set off STEP 4   The net difference i.e. the floating rate profit in Step 1 is paid to ABC by Islamic Swap counter Party at the agreed interval payment date of say 6 month   ABC Islamic Swap Counter Party ASSET
[object Object],Floating Profit Rate (Stage 2) is repeated every 6 months until maturity. 6 MONTHS 6 MONTHS 6 MONTHS 6 MONTHS MATURIT Y ABC Islamic Swap Counter Party ASSET
ISLAMIC PROFIT RATE SWAP ,[object Object],[object Object],[object Object],[object Object]
ISLAMIC PROFIT RATE SWAP ,[object Object],[object Object],[object Object],[object Object]
FUTURE  CONTRACT & ISLAMIC FINANCE ,[object Object],[object Object],[object Object],[object Object]
Features of Ba’i Salam ,[object Object],Objective Difference
[object Object],Features of Ba’i Salam Beneficial to the seller The predetermined price is normally lower than the prevailing spot price
[object Object],Features of Ba’i Salam One sided-Counter party risk It is the buyer who faces the seller’s default risk .
Features of Istisna ,[object Object],Price of Product Agreed upon & Fixed .  Termination Cancelled before production begins .  Payment Time of Delivery
Joala   Contracts ,[object Object]
[object Object],[object Object],CROSS CURRENCY SWAP
Terms and Conditions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Three Stages of CCS 1)- Spot Exchange of Principal 3)- Re-exchange of principal at the maturity of the contract  2)- A continuing exchange of interest payments during the swap's life
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],Reverse Murabaha(Tawarruq)
OPTIONS IN ISLAMIC FINANCE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],P LB P 0 P * P UB
[object Object],[object Object],[object Object],OPTIONS IN ISLAMIC FINANCE
[object Object],OPTIONS IN ISLAMIC FINANCE Not A Zero Sum Game Contract avoids “Riba and Gharar”
C ONCLUSION ,[object Object],Evaluation on precedence  Absent for the risk management problems faced today  Objective Micro-examination instead of intend and societal benefit   Differing Sects Convergence Required
[object Object]

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Islamic derivatives

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  • 3. Islamic Methodology towards Innovation Permanent (Al-Thawabit) Changeable ( Al-Mutaghayyarat )
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  • 19.
  • 20.
  • 21.
  • 22. Three Stages of CCS 1)- Spot Exchange of Principal 3)- Re-exchange of principal at the maturity of the contract 2)- A continuing exchange of interest payments during the swap's life
  • 23.
  • 24.
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