After highlighting different views of Islamic scholars on option derivatives, the paper explores a potential role for option derivatives as useful risk management tool in commodity markets, while attuned to Islamic Shariah principles. The author illustrated a model of commodity stock market to...

This paper investigates estimation of extreme risk in a number of stock markets in the Gulf Cooperation Council (GCC) countries , Saudi, Kuwait, and United Arab Emirates, in addition to S& P 500 stock index, using the Generalized Pareto Distribution (GPD) model. The estimated tails parameter...