Greneery

Bismillah and assalamualaikum. May this super simple explanation help your understanding on the practice of forward forex in Islamic finance. Wide smilesss! :D :D :D  Your duit raya in advance! ^,^ *** Islamic financial derivative instruments such as swaps, forwards and options have been introduced in Islamic finance as one of the hedging mechanisms to enhance risk management capability of market participants. A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. It can be both for hedging and speculation. While foreign exchange is the exchange of one currency for another or the conversion of one currency into another currency. The term foreign exchange is usually abbreviated as "forex" and occasionally as "FX”. Thus in short, forward forign currency exchange is the exchange of one currency for another at a specified price on a future date agreed by both contracting parties.

Bismillah and assalamualaikum. This is only my executive summary on the topic I was assigned to present to the whole class. Alhamdulillah the presentation went well even though it was like the whole day standing in front the class, answering some questions and having further discussion regarding the topic. Haha. Anyway, it's only a summary so don't expect much. Enjoy! hope it may benefit even a little. *wink* ... nak duit tak? hee This individual assignment analyzes the application of Qard and Qard al-Hasan contracts in Islamic banking and finance products and services in Malaysia. It covers the legitimacy of qard from Quran, introduction of qard al-hassan and qard, components of the contract, product chosen and its modus operandi, opportunities and challenges on the contract, related issues and also course of action proposed regarding the contract. Qard al-hasan is a zero-return financing that Al-Quran urges Muslims to make available for those who need it.