Risk-Sharing Finance : : An Islamic Jurisprudence (Fiqh) Perspective / / Saad Bakkali, Abbas Mirakhor.
The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnect...
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Place / Publishing House: | München ;, Wien : : De Gruyter Oldenbourg, , [2021] ©2021 |
Year of Publication: | 2021 |
Language: | English |
Series: | De Gruyter Studies in Islamic Economics, Finance and Business ,
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Physical Description: | 1 online resource (XI, 130 p.) |
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Bakkali, Saad, author. aut http://id.loc.gov/vocabulary/relators/aut Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / Saad Bakkali, Abbas Mirakhor. München ; Wien : De Gruyter Oldenbourg, [2021] ©2021 1 online resource (XI, 130 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda De Gruyter Studies in Islamic Economics, Finance and Business , 2567-2533 ; 10 Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnected bilateral contracts that in totality becomes opaque, complex and costly. An unfortunate result of the unavailability of an efficient Fiqhi model applicable to modern multilateral and multi-counterparty contracts has been the fact that the present Islamic finance has been forced to replicate conventional risk-transfer (interest rate based) debt contracts thus drawing severe criticisms of duplicating conventional finance. In 2012, a gathering of some of the Muslim world’s most prominent experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa) in which they identified risk sharing as the essence of Islamic finance. The Declaration opened the door for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration (Fatwa) provides a prime motivation to search for a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. From the perspective of Islamic Jurisprudence (Fiqh), the technicalities of the concept of risk sharing in contemporary finance have yet to be defined in Islamic literature. This book attempts to clarify and shed light on these technicalities from the perspective of Fiqh. It is a comprehensive study that relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance as envisioned in the Kuala Lumpur Declaration of 2012. This new paradigm should lead to a more efficient approach to multilateral and multi-counterparty Islamic contracts which, here-to-fore has been lacking in the current configuration of Islamic finance. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 28. Feb 2023) Finance Religious aspects Islam. Risk. BUSINESS & ECONOMICS / Islamic Banking & Finance . bisacsh Mirakhor, Abbas, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter DG Ebook Package English 2021 9783110750720 Title is part of eBook package: De Gruyter DG Plus DeG Package 2021 Part 1 9783110750706 Title is part of eBook package: De Gruyter EBOOK PACKAGE Business and Economics 2021 English 9783110754049 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2021 English 9783110754001 Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2021 9783110753776 ZDB-23-DGG Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics 2021 9783110753820 ZDB-23-DBV EPUB 9783110590555 print 9783110590463 https://doi.org/10.1515/9783110593433 https://www.degruyter.com/isbn/9783110593433 Cover https://www.degruyter.com/document/cover/isbn/9783110593433/original |
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Bakkali, Saad, Bakkali, Saad, Mirakhor, Abbas, |
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Bakkali, Saad, Bakkali, Saad, Mirakhor, Abbas, Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / De Gruyter Studies in Islamic Economics, Finance and Business , Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References |
author_facet |
Bakkali, Saad, Bakkali, Saad, Mirakhor, Abbas, Mirakhor, Abbas, Mirakhor, Abbas, |
author_variant |
s b sb s b sb a m am |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Mirakhor, Abbas, Mirakhor, Abbas, |
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VerfasserIn VerfasserIn |
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Bakkali, Saad, |
title |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / |
title_sub |
An Islamic Jurisprudence (Fiqh) Perspective / |
title_full |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / Saad Bakkali, Abbas Mirakhor. |
title_fullStr |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / Saad Bakkali, Abbas Mirakhor. |
title_full_unstemmed |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / Saad Bakkali, Abbas Mirakhor. |
title_auth |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / |
title_alt |
Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References |
title_new |
Risk-Sharing Finance : |
title_sort |
risk-sharing finance : an islamic jurisprudence (fiqh) perspective / |
series |
De Gruyter Studies in Islamic Economics, Finance and Business , |
series2 |
De Gruyter Studies in Islamic Economics, Finance and Business , |
publisher |
De Gruyter Oldenbourg, |
publishDate |
2021 |
physical |
1 online resource (XI, 130 p.) Issued also in print. |
contents |
Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References |
isbn |
9783110593433 9783110750720 9783110750706 9783110754049 9783110754001 9783110753776 9783110753820 9783110590555 9783110590463 |
issn |
2567-2533 ; |
url |
https://doi.org/10.1515/9783110593433 https://www.degruyter.com/isbn/9783110593433 https://www.degruyter.com/document/cover/isbn/9783110593433/original |
illustrated |
Not Illustrated |
doi_str_mv |
10.1515/9783110593433 |
oclc_num |
1253314205 |
work_keys_str_mv |
AT bakkalisaad risksharingfinanceanislamicjurisprudencefiqhperspective AT mirakhorabbas risksharingfinanceanislamicjurisprudencefiqhperspective |
status_str |
n |
ids_txt_mv |
(DE-B1597)493327 (OCoLC)1253314205 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter DG Ebook Package English 2021 Title is part of eBook package: De Gruyter DG Plus DeG Package 2021 Part 1 Title is part of eBook package: De Gruyter EBOOK PACKAGE Business and Economics 2021 English Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2021 English Title is part of eBook package: De Gruyter EBOOK PACKAGE COMPLETE 2021 Title is part of eBook package: De Gruyter EBOOK PACKAGE Economics 2021 |
is_hierarchy_title |
Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective / |
container_title |
Title is part of eBook package: De Gruyter DG Ebook Package English 2021 |
author2_original_writing_str_mv |
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