In the Name of God: Managing Risk in Islamic Finance

The popularity of derivative instruments especially in managing uncertainty (risk)had become popular after several financial crises that occurred since the Great EconomicDepression. There are various tools have been developed in managing risk such as the Options,Forwards, Futures and Swaps. In addition, these kinds of tools are commonly used by institutional and individual investors. Given this popularity, conventional risk management strategies is completely against from Islamic risk management as Islamic financial market arekeep on growing drastically at Cumulative Average Growth Rate (CAGR) of 15% on yearlybasis (Mckinsey, 2005). This is clearly shows that, Islamic finance development are in line withconventional financial development. Therefore, there is need to maintain consistency in productstructures offered by these two financial markets. The complexity is mainly contributed by thestructures and the design of the products especially on Islamic derivatives tools. Therefore, to get a significant picture of the Islamic risk management tools, this paper will only examines thecontemporary derivative instruments namely; Option and the Islamic viewpoints of thisinstrument . As we know, Islamic finance is governed by Shariah principle and guidelines whichprohibit Riba, Gharar, and Masir etc. Therefore, this paper attempts to explore the validity ofoptions from Islamic and Shariah perspectives by reviewing Islamic scholars opinions on anoptions market.

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Ethnic Differences in Self-Poisoning Across South London

Crisis ◽

10.1027/0227-5910/a000258 ◽

2014 ◽

Vol 35 (4) ◽

pp. 268-272

Author(s):

Sean Cross ◽

Dinesh Bhugra ◽

Paul I. Dargan ◽

David M. Wood ◽

Shaun L. Greene ◽

...

Keyword(s):

Black Women ◽

Data Collection ◽

White Women ◽

Population Based ◽

Care Services ◽

Self Harm ◽

Managing Risk ◽

The Uk ◽

Incident Cases ◽

Minority Ethnic

Background: Self-poisoning (overdose) is the commonest form of self-harm cases presenting to acute secondary care services in the UK, where there has been limited investigation of self-harm in black and minority ethnic communities. London has the UK’s most ethnically diverse areas but presents challenges in resident-based data collection due to the large number of hospitals. Aims: To investigate the rates and characteristics of self-poisoning presentations in two central London boroughs. Method: All incident cases of self-poisoning presentations of residents of Lambeth and Southwark were identified over a 12-month period through comprehensive acute and mental health trust data collection systems at multiple hospitals. Analysis was done using STATA 12.1. Results: A rate of 121.4/100,000 was recorded across a population of more than half a million residents. Women exceeded men in all measured ethnic groups. Black women presented 1.5 times more than white women. Gender ratios within ethnicities were marked. Among those aged younger than 24 years, black women were almost 7 times more likely to present than black men were. Conclusion: Self-poisoning is the commonest form of self-harm presentation to UK hospitals but population-based rates are rare. These results have implications for formulating and managing risk in clinical services for both minority ethnic women and men.

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