Purpose: This study aims to introduce financial derivatives and their tools and the risks they cause, with an indication of their relationship to financial crises, which contributes to drawing the broad outlines of the Islamic alternative and determines the reality of the failure of the global financial system in managing risks through traditional financial derivatives.   Theoretical framework: Introduce financial derivatives and their tools and the risks they cause, with an indication of their relationship to financial crises, and alternatives from the point of view of Islamic economics.   Methodology: The study was based on a qualitative research method, as it collected information from books, reports, magazines, newspapers, and websites.   Findings: The financial derivatives increased risks and led us into crises. while Islamic Sharia provides an alternative to risk management, which focuses on avoiding fake sales and creating ethical and clean financial markets.   Research, Practical & Social implications: Financial markets, financial derivatives markets, financial institutions, banks, and insurance companies are considered. And small customers, the most important beneficiaries of these ideas.   Originality/value: This research is the original work of the authors and differs from other previous studies in that it proves the existence of a disciplined Islamic alternative within the foundations and standards of Islamic economics and shows its feasibility for successful practical application, particularly in the face of financial crises, addressing them during their occurrence and preventing them before they occur.