The Islamic finance industry faces the challenging task of attempting to reconcile the risk management demands of business entities with the difficulties posed by the seemingly rigid stance taken by some Shari'ah scholars over hedging practices.
Offering a fresh perspective, Sherif Ayoub confronts the challenge by reformulating how we might think about the theorisation of economic matters in the Islamic faith. He also considers the associated perceptions of permissibility that have until now been confined to the legal sphere, with a focus on contractual elements.
Ayoub sheds light on...