Participatory Islamic Finance
Ideals, Contemporary Practices, and Innovations
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Beschreibung
Participation in risk and reward, as an alternate to conventional risk-transfer finance, is important for achieving the higher ethical objectives of Islamic finance, called maqasid al shariah, and responsible finance in general. That is why participatory finance is advocated as the ideal form of financing and the essence of Islamic banking and finance. The Participatory Islamic Finance: The Ideals, Contemporary Practices, and Innovations presents a holistic view of both theory and practice of participatory models, constraints to its applications, success case studies of the participatory finance from multiple countries, and more importantly the recent innovations in participatory finance products. These new insights makes, the Participatory Islamic Finance: The Ideals, Contemporary Practices, and Innovations is an essential read and guide, for both Islamic finance academics and practitioners.
Dr. Muhammad Nouman is currently serving as senior lecturer at the Institute of Business and Management Sciences, The University of Agriculture Peshawar, Pakistan. He has nearly thirteen years of teaching and research experience. He has also served at a Software house as a project manager and HR trainer. In addition, he also has exposure of working at the GPI Fund (pension fund management department) of Khyber Pakhtunkhwa (a northern province of Pakistan), and a Securities brokerage firm. Nouman has been a part of editorial boards of a number of journals related to Islamic banking and finance, investment management, and corporate finance. Moreover, he is member of apex academic and research committees of several Universities.
Dr. Karim Ullah is currently working as Tenured Associate Professor at Institute of Management Sciences, Peshawar Pakistan. He has been awarded twice by the Government of Pakistan Higher Education Commission, for being the author of two books on Islamic Finance,which have been declared as the best books of the country for years 2015 and 2017, respectively. He also led a team to won multiple grants included the financial innovation challenge fund of UK Department for International Development and Central Bank of Pakistan, to lead the establishment of Centre for Excellence in Islamic Finance. Karim Ullah has nearly 15 years of teaching, research, and consulting experience. He is part of multiple editorial boards of impactful journals related to Islamic finance, do consulting and trainings to financiers, and remain part of apex committees related to the policy and standard developments for Islamic finance in multiple countries.
Participation in risk and reward, as an alternate to conventional risk-transfer finance, is important for achieving the higher ethical objectives of Islamic finance, called maqasid al shariah, and responsible finance in general. That is why participatory finance is advocated as the ideal form of financing and the essence of Islamic banking and finance. The Participatory Islamic Finance: The Ideals, Contemporary Practices, and Innovations presents a holistic view of both theory and practice of participatory models, constraints to its applications, success case studies of the participatory finance from multiple countries, and more importantly the recent innovations in participatory finance products. These new insights makes, the Participatory Islamic Finance: The Ideals, Contemporary Practices, and Innovations is an essential read and guide, for both Islamic finance academics and practitioners.
Elaborates the contemporary practices of Islamic banks and how they adapt their products Introduces variants of participatory finance and their applications through case studies Illustrates how Islamic banks can design flexible participatory financing products
Autor*in
Muhammad Nouman
Themen in »Participatory Islamic Finance«
Islamic Banking Islamic Finance Participatory Finance Profit and Loss Sharing Adaptation
Stimmen zu »Participatory Islamic Finance«
“While an option to create resilient financial and economic systems is to adopt risk-sharing financing, these modes are not well-understood and are challenging to apply. This book, participatory Islamic Finance, provides an in-depth discourse on the Shariah, theoretical and practical perspectives on participatory capital and how these can be applied to provide inclusive finance and promote a stable, fair and equitable economy. Focusing on partnership contracts of mudarabah and musharakah and presenting practices from different countries, this study provides unique insights on how these modes of financing can be applied in reality and helps to reduce the use of debt based instruments that increase fragility of businesses and economies.”
— Professor Habib Ahmed, Durham University Business School, United Kingdom.
“The authors of “Participatory Islamic Finance: The Ideals, Contemporary Practices,and Innovations” have rendered a great service in building the narrative of participatory modes in Islamic finance based on qualitative research methodology. With the case study-based review of the participatory financing practices in Iran, Pakistan, Sudan, Malaysia, and Türkiye, the book presents an innovative approach to both understanding and practicing Islamic finance in various jurisdictions. Risk and reward participation for valid and ethical return is the unique feature of Islamic finance though al lawful modes and tools could lead to the realization of maqāsid al shariah, if applied in their true spirit. Participatory modes are, however, ideal for realizing the objectives of social justice and social inclusion in any economy.”
— Professor Dr. Muhammad Ayub, Riphah University, Islmabad, Pakistan.
“For me the “Participatory Islamic Finance” is an exceptional book, which weaves participatory finance, Maqasid al Shariah and higher ethical objectives of Islam in an entirely new foresight. It walks through the developments in participatory finance, historically and through various countries of the world. It has adopted a concrete system approach in addressing the lacunas in participatory finance. It makes the readers and practitioners come out of their comfort zones and look at things with the new wave of awareness just created through their synthesis which is both factual, thorough and interesting.”
— Dr Zohra Jabeen, PhD and specialized in Sukuks, Institute of Management Sciences, Pakistan.
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