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This text focuses on options and futures as trading tools and explores their validity from an Islamic legal point of view. After reviewing the existing rules of Islamic law of contract and verifying their relevance or otherwise to futures trading, the author advances a new perspective on the issue of futures and options based on an interpretation of the Qur'an and the Sunna and referring to the principle of ""mashala"" (consideration of public interest) as enshrined in the Shari'ah.;The book consists of three parts. Part one is devoted to the description of futures trading and the understanding of operational procedures of futures and futures markets. Part two investigates the issue of permissibility of futures trading in Islamic law and the underlying questions of risk-taking and speculation, which are of central concern to the topic. Part three is devoted to an analysis of options.