PT - JOURNAL ARTICLE AU - Wafica Ghoul TI - Risk Management and Islamic Finance AID - 10.3905/joi.2008.710924 DP - 2008 Aug 31 TA - The Journal of Investing PG - 96--104 VI - 17 IP - 3 4099 - https://pm-research.com/content/17/3/96.short 4100 - https://pm-research.com/content/17/3/96.full AB - This article focuses on the risk management aspects of Islamic finance. It aims to explain the aspects of conventional derivative instruments that are objectionable in Islamic Sharia'h, and what Islamic finance proposes as alternatives for risk management. As of today, very few derivative instruments have been unanimously accepted by Muslim scholars around the globe. The field of Islamic risk management is a fertile ground for major innovations. This article surveys recent Islamic derivative products that have been developed and publicized. Unfortunately, many are designed for private clients and never come to be announced; the challenges facing this domain are discussed.TOPICS: Risk management, derivatives, global markets