This, the first part of a two-part article, examines key features of asset-backed securitisation and currency hedging under Islamic Shafi law. Reviews basic principles of Shafi law, and the Musharaka structures of its profit-sharing agreements, the use of Ijarah structures in securitisation, agency agreements using the Wakalah structure, purchase and sale transactions under the Salam structure, and asset financing through Murabahah structures
