Chapter

Marketing Commodities Does Not Happen on Commodity Markets: The Egyptian Bursat Al-‘Uqud and Oil Futures Markets

Ellis Goldberg

in The Politics of Islamic Finance

Published by Edinburgh University Press

Published in print February 2004 | ISBN: 9780748618361
Published online March 2012 | e-ISBN: 9780748653089 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748618361.003.0004
Marketing Commodities Does Not Happen on Commodity Markets: The Egyptian Bursat Al-‘Uqud and Oil Futures Markets

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This chapter discusses the ‘futures’ market or commodities market (bursat al-'uqud), which constitutes the building blocks of the global financial system. Commodities markets are at odds with Islamic law, hence the conclusion that Islamic banks are difficult to integrate into the global system of production and trade. The chapter examines the Egyptian futures market and the global markets for oil.

Keywords: futures market; commodities market; bursat al-'uqud; global financial system; production and trade; Egyptian futures market; markets for oil

Chapter.  11009 words. 

Subjects: Society and Culture

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