Participatory Islamic Finance: Ideals, Contemporary Practices, and Innovations [Hardcover]

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.

Chapter 1. Introduction to Islamic banking and finance.- Chapter 2. The origin and history of participatory finance.- Chapter 3. The concepts, modes, and rules of participatory Islamic finance.- Chapter 4. The basic philosophy and axioms of participatory finance.- Chapter 5. The nexus between higher ethical objectives and participatory finance.- Chapter 6. Participatory finance as the essence of modern Islamic banking.- Chapter 7. The paradox of idealization in theory and marginalization in practices.- Chapter 8. Constraints to participatory financing in Islamic banking. Chapter 9. Application of participation based arrangements: The challenges and prospects.- Chapter 10. The variants of participatory finance.- Chapter 11. Domains of participatory finance in the major Islamic banking industries.- Chapter 12. Assessment and mitigatlÓQ