PUBLICATIONS - FIQH - ISRA - Paper - The Concept and Operations of Swap as a Hedging Mechanism for Islamic Financial Institutions (No 14/2010)

The Concept and Operations of Swap as a Hedging Mechanism for Islamic Financial Institutions - ISRA Research Paper (No. 14/2010)

Assoc. Prof. Dr. Asyraf Wajdi Dusuki, Head of Research Affairs Department, ISRA 

The paper discusses the concept and operations of the swap instrument as a hedging mechanism in the Islamic financial system.  The main objective of this paper is to give a clearer picture of the swap mechanism as offered by the international Islamic financial institutions and how its operations are structured in accordance with Shariah principles and contracts.