IMAMIAH JURISPRUDENCE PERSPECTIVES ON COMMODITY SWAPS

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MOOSAVIAN SAYYED ABBAS; TAMALLOKI HOSSEIN

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Journal: ISLAMIC FINANCE RESEARCHES Year:2013 | Volume:2 | Issue:2 (4) Page(s): 25-54

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Information Journal Paper

Title

IMAMIAH JURISPRUDENCE PERSPECTIVES ON COMMODITY SWAPS

Author(s)

MOOSAVIAN SAYYED ABBAS | TAMALLOKI HOSSEIN | Issue Writer Certificate

Keywords

FINANCIAL DERIVATIVESQ2

SWAP CONTRACTSQ3

COMMODITY SWAPSQ3

RISK MANAGEMENTQ2

Abstract

Nowadays, with the development of financial institutions and the extension of business scope, RISK MANAGEMENT has found major significance in economic studies. Today, various approaches and tools are designed to manage and reduce different types of risks.One of the most useful tools in managing risks is SWAP CONTRACTS in which a set of fixed cash flows is exchanged with a set of floating cash flows.Commodity swaps, which is considered as one type of swaps, have a critical role in managing and hedging against the risk of basic commodities such as oil, petrochemical products, energy, precious metals and agricultural products. This article, besides introducing this financial tool by using a juridical approach, tries to investigate the possibility of applying this contract from the perspective of Imamiah jurisprudence and examines the possibility of the adaptation of this tool to the common Islamic contracts.In this study, the possibility of adaptation of COMMODITY SWAPS to "Bai'al- dain bil dain", "Ba'i al-Kali bil Kali" and "Solh dain bil dain" has been examined and the possibility of application of COMMODITY SWAPS in "Solh dain bil dain" is confirmed. Due to the doubt of being Gharar and Riba, it has been concluded that the common western COMMODITY SWAPS are not compatible and adaptable to Imamiah jurisprudence. Finally, it has been mentioned that the possible solution for resolving this doubt is to exchange the commodity in the settlement date during the contract period. Doing so, COMMODITY SWAPS have the whole general conditions of a true and correct contract.

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APA: Copy

MOOSAVIAN, SAYYED ABBAS, & TAMALLOKI, HOSSEIN. (2013). IMAMIAH JURISPRUDENCE PERSPECTIVES ON COMMODITY SWAPS. ISLAMIC FINANCE RESEARCHES, 2(2 (4)), 25-54. SID. https://sid.ir/paper/254910/en

Vancouver: Copy

MOOSAVIAN SAYYED ABBAS, TAMALLOKI HOSSEIN. IMAMIAH JURISPRUDENCE PERSPECTIVES ON COMMODITY SWAPS. ISLAMIC FINANCE RESEARCHES[Internet]. 2013;2(2 (4)):25-54. Available from: https://sid.ir/paper/254910/en

IEEE: Copy

SAYYED ABBAS MOOSAVIAN, and HOSSEIN TAMALLOKI, “IMAMIAH JURISPRUDENCE PERSPECTIVES ON COMMODITY SWAPS,” ISLAMIC FINANCE RESEARCHES, vol. 2, no. 2 (4), pp. 25–54, 2013, [Online]. Available: https://sid.ir/paper/254910/en

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