Islamic promissory forward contract IPFC. which is structured in a manner that reflects the concept of wa'd promise. is used as a tool for risk management in Islamic financial transactions.

Question

Quizplus · Accepted Answer

Islamic Promissory Forward Contracts (IPFCs) are indeed structured around the concept of wa'd (promise) and are used as tools for risk management in Islamic finance, aligning with Shariah principles which prohibit interest (riba) and speculative transactions (gharar).

Islamic Promissory Forward Contract IPFC