Abstract: An Islamically-compliant method of transferring a financial, investment or pricing risk from a initial entity to an ultimate entity by means of an intermediate entity is disclosed. The first entity acquires a risk of financial, investment or pricing loss. The intermediate entity provides protection policy to the first entity against a predetermined protected risk, the protected risk being at least part of the risk of financial etc. loss. The first entity provides a protection premium to the intermediate entity for the protection, the premium being in the form of a charitable contribution, such that a profit is repaid to the first entity in the event that the protected risk does not come to pass. The ultimate entity may make an investment in the intermediate entity by providing funds or a contractual commitment such as a re-protection policy at least partially to cover the protected risk. The ultimate entity is thereby exposed at least partially to the protected risk.