Thesis:

A comparative study of futures contracts in the stock market from the perspective of Islamic jurisprudence

The growth and development of financial markets on the one hand and the concern of producers and consumers about the instability and fluctuation of prices on the other hand led to future contracts and then futures contracts as one of the most obvious examples of derivative instruments to cover and control the risk of price changes and guarantee capital security. Investing in production and consumption should be designed. Although the philosophy behind the creation of these contracts was initially risk hedging, it has gradually been used as a means of investment and profit. Future contracts are one of the new tools in the financial markets of the world, which were created to cover the risk caused by price fluctuations. The future contract has a special complexity that pursues different purposes in the financial markets, so that traditional and specific contracts in jurisprudence cannot fully play such a role, although similar transactions such as forward sales are very close to future contracts, but the void Such transactions were still felt in the financial markets. Regarding the legitimacy and validity of these contracts, Islamic scholars and jurists have given different opinions. Some people believe that the use of these tools is against the jurisprudence standards and contracts such as sale of advance, Istisna and Jaala are suitable alternatives for these contracts. On the other hand, some others have argued that according to the principle of freedom of contracts, any contract is valid as long as it has the conditions of correctness of transactions, unless there is a reason to invalidate it. Keywords: future contracts, stock market, compensation

Keywords: Keywords: future contracts, stock market, compensatio