31.08.2010 - Shariah compliant structured product: Consecutive or rolled Murabaha Nikan Firoozye, PhD
From Opalesque: Nikan has over 14 years experience in leading Wall Street and City firms on the buy and sell-side including Lehman Brothers, Goldman-Sachs, Deutsche Bank, Sanford Bernstein Alliance, Citadel and Nomura where he is currently Head of European Rates Strategy. He has worked in a variety of primarily technical or quantitative fixed income roles from Rates & Hybrids Structuring to Rates Strategy and Quantitative Modelling to Asset Allocation and Risk Management to Prepayment Analysis and Securitization and Capital Markets. Education: PhD Mathematics (Courant Institute, NYU), Asst Prof University of Illinois. Structured Product, by its nature is something that can deliver diverse risky cashflows to investors. Delivering this to a conventional investor involves hedging, sometimes statically, sometimes dynamically with vanilla options, swaps and swaptions, basis and asset swaps, correlation products and a whole host of other 'slightly less exotic' products. That being said, structured product is a huge business, one that generates large returns for banks (less so recently) and to a certain extent encourages Islamic Structuring desks to look for ways to deliver the same cashflows to Islamic investors..............................................Full Article: Source