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Chapter Summary

This chapter discusses the options from an Islamic perspective. For instance, interest rate option is obviously out of consideration. Similarly, index options are pure gambling as many Muslim jurists and economists described them. Although the chapter has addressed the issue of gambling briefly while addressing the issue of speculation, it is necessary to touch on some of these issues due to their close link to options trading in particular. An investigation about options from an Islamic point of view would not be complete unless the issue of gambling in options and the claim that options trading is illegal because it involves the combination of two contracts in one transaction is tackled.

Keywords: gambling; index options; interest rate option; Islamic alternative; options trading



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