The principle of Wa'd or promise can be used to structure innovative shariah compliant hedging instruments. Conventional hedging products such as forward currency contracts and currency swaps are prohibited in Islamic Finance principally due to the issue of riba and to the violation of bay...

The theoretical effects of labour regulations such as employment protection legislation (EPL) on innovation is ambiguous, and empirical evidence has thus far been inconclusive. EPL increases job security and the greater enforceability of job contracts may increase worker investment in innovative...