Juridical feasibility of weather derivatives using multi-stage ijtihad research method

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TALEBI MOHAMMAD; SAYAR MOHSEN; fadaei wahed hanieh

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Journal: FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT) Year:2019 | Volume:9 | Issue:37 Page(s): 88-109

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Title

Juridical feasibility of weather derivatives using multi-stage ijtihad research method

Author(s)

TALEBI MOHAMMAD | SAYAR MOHSEN | fadaei wahed hanieh | Issue Writer Certificate

Keywords

Weather derivativesQ1

Degree of heatingQ1

Cooling degreeQ1

Risk coverageQ2

Natural disasters in agricultureQ1

jurisprudential studyQ1

Abstract

The agricultural industry, which is referred to as a mothers industry, faces many risks, which has reduced investors' willingness to invest in this industry. Some of these risks, including disaster risk, are considered to be the specific risks of this industry. Developed countries use a variety of instruments, such as Weather derivatives, to cover these risks. Weather derivatives, like other derivatives used in financial markets, are based on their base assets, with the difference that the base asset in Weather derivatives is the temperature index, rainfall, snowfall, and etc. This research, while reviewing the nature of the Weather derivatives, has provided a juridical feasibility study for the implementation of this financial instrument. The research method used in this research is a multi-stage Ijtihadi model. The results of this research indicate that the lack of legal permission to use this instrument is due to the conflict with the principle of the prohibition of fake money and the existence of a dilemma of the underlying asset ineligibility. However fixing the drawbacks and develop Islamic financial instruments in accordance with the Imam's jurisprudence is not far from mind.

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APA: Copy

TALEBI, MOHAMMAD, SAYAR, MOHSEN, & fadaei wahed, hanieh. (2019). Juridical feasibility of weather derivatives using multi-stage ijtihad research method. FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), 9(37 ), 88-109. SID. https://sid.ir/paper/197870/en

Vancouver: Copy

TALEBI MOHAMMAD, SAYAR MOHSEN, fadaei wahed hanieh. Juridical feasibility of weather derivatives using multi-stage ijtihad research method. FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT)[Internet]. 2019;9(37 ):88-109. Available from: https://sid.ir/paper/197870/en

IEEE: Copy

MOHAMMAD TALEBI, MOHSEN SAYAR, and hanieh fadaei wahed, “Juridical feasibility of weather derivatives using multi-stage ijtihad research method,” FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), vol. 9, no. 37 , pp. 88–109, 2019, [Online]. Available: https://sid.ir/paper/197870/en

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