Editing Islamic banking and finance (section)

=====Swaps=====
Faleel Jamaldeen describes the Islamic swap market as being of two kinds of swaps: 
*profit rate swap: "based on exchanging fixed for floating rate profits".<ref name="FJIFD2012:183"/> (Similar to interest rate swaps of conventional finance. As of 2007, this kind of swap had the largest market of any variety of swaps.)<ref>BIS Semiannual OTC derivatives statistics at end-December 2008</ref> According to Harris Irfan, the Islamic finance market is "awash" with "profit rate swap" contracts,<ref name="HIHB2015:174-5">[[#HIHB2015|Irfan, ''Heaven's Bankers'', 2015]]: p.174-5</ref> including a global standard developed by the IIFM and [[International Swaps and Derivatives Association]].<ref name=HIHB2015:174-5/><ref name="launch">{{cite web |title=IIFM and ISDA Launch Tahawwut (Hedging) Master Agreement |url=http://www.isda.org/media/press/2010/press030110.html |website=ISDA |access-date=12 October 2017 |date=1 March 2010 |archive-url=https://web.archive.org/web/20171014083539/http://www.isda.org/media/press/2010/press030110.html |archive-date=14 October 2017 |url-status=dead }}</ref> In Malaysia, the "Islamic Profit Rate Swap" (IPRS) hedging tool is popular.<ref name="IBRC">{{Cite news|url=https://islamicbankers.me/islamic-banking-islamic-contracts/in-focus-islamic-profit-rate-swap/|title=Treasury : Waad in Islamic Profit Rate Swap|date=17 August 2011|work=Islamic Bankers Resource Centre|access-date=25 October 2017|language=en-US}}</ref>
*cross-currency swap: These are used by investors to "transfer currency fluctuation risk among themselves."<ref name="FJIFD2012:183"/>