...Mohammad Alhejaili Purpose This study explores the ethical challenges of integrating derivatives into Islamic finance. It aims to reconcile the principles of Shari’ah law with modern financial practices. It seeks to understand how derivatives, characterised by their complexity and speculative...

... the benefits of having a risk-sharing mode over the conventional risk-transfer stances of most risk management tools. Originality/value – The paper offers a new way of structuring a risk management tool in Islamic finance. It explores the highly debated area of derivatives in Islamic finance and proposes...