The wa'ad on the Street

The Islamic concept of wa'ad has been used as a linchpin for a variety of structured products in recent years. Priya Uberoi, Rahul Chatterji and Dany Bidar consider the role of wa'ad in the evolution of Islamic derivatives, outlining the essential characteristics of the concept and some of the products in which it can be used

Islamic finance finds itself at a crossroads. While it is essential to ensure new products are sharia (Islamic law)-compliant, it is also important not to allow the market to stagnate. The need to balance these different objectives is particularly evident in the Islamic derivatives arena, where there is a dichotomy of opinion between Islamic scholars on what instruments are permissible under sharia.

Wa'ad is a traditional Islamic product and the term occurs frequently in the Koran. While it can

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here