I hope you are doing well!
I am Asma SAQRI, From Morocco, I’m a second-year master’s student in Actuary and Market Finance. Currently, I’m in internship at a trading room. I choose as a research problem « how Islamic finance responds to the need to hedge against currency risk while respecting the precepts of Shariaa ».
I inspired by Malaysia, since this country has become a reference around the world for crowdfunding.
After documentation, I found two products that Malaysia uses to hedge against currency risks: Waad and Tawarruq.
The objectif of my graduation project is the elaboration of a pricer for these products following the « Black & Scholes » model or binomial model, under VBA Excel.
On this, I have difficulty in choosing the most appropriate model for the pricing of the two products adopted by Malaysia.
I would very much like to know, if you have an idea about the model used by Malaysia to price these products, or if you have any leads or documents that can help me to choose the right model for these derivatives products.
Many thanks for your help,