Participatory Islamic Finance
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Participatory Islamic Finance
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Author : Muhammad Nouman
language : en
Publisher: Springer Nature
Release Date : 2023-05-08
Participatory Islamic Finance written by Muhammad Nouman and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-08 with Business & Economics categories.
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.
Islamic Financial Institutions And Participatory Finance Constraints
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Author : Azam Ali
language : en
Publisher:
Release Date : 2018
Islamic Financial Institutions And Participatory Finance Constraints written by Azam Ali and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Islamic financial contracts are designed to facilitate financing according to Islamic norms. Islamic financing in its first stages used only the partnership modes of Musharakah and Mudarabah. Later it is realized that, to avoid moral hazards, yet compete successfully with conventional banks, it is necessary to use all permissible Islamic modes and consequently, trade and leasing techniques were developed. This paper aims to identify the constraints faced by Islamic financial institutions in the adoption of participatory finance i.e., Musharakah and Mudarabah financing. The two basic categories of financing are: 1) profit-and-loss-sharing (PLS), also called participatory finance, i.e. Musharakah and Mudarabah and 2) purchase and hire of goods or assets and services on a fixed-return basis, i.e., Murabahah, Istisna', Salam and Ijarah also called non-participatory finance. This paper suggests that innovation and creativity is necessitated more than ever to promote participatory modes of financing and to make it the preferred choice for meeting the increasingly sophisticated and diversified financial needs.
Variants Of Participatory Financing For Risk Assessment And Mitigation In Islamic Banking
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Author : Muhammad Nouman
language : en
Publisher:
Release Date : 2020
Variants Of Participatory Financing For Risk Assessment And Mitigation In Islamic Banking written by Muhammad Nouman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The participatory modes of Islamic financing including Musharakah and Mudarabah are widely accepted as the ideal modes of financing among the jurists of Islamic banking and finance. However, paradoxically, these are not the most popular modes of financing in practice. The practice of the participatory financing in Islamic banking is constrained by several factors. Therefore, Islamic banks are applying the adapted variants of Musharakah. The present study aims to explore the prevailing variants of participatory financing in the Islamic banking industry of Pakistan using multiple case studies strategy. Findings suggest that Islamic banks adapt the participatory financing to make these fit for SME financing, corporate financing, consumer financing, and commodity operations financing within the embedded contractual variants of Musharakah namely diminishing Musharakah and running Musharakah, while pure Musharakah and Mudarabah are not applied in practice. The study also provide insights into the design of participatory financing arrangements and the procedures adopted by Islamic banks for assessing and mitigating the underlying risks associated to the participatory financing , particularly the risk induced by asymmetric information including adverse selection, and moral hazards.
Why Islamic Banks Tend To Avoid Participatory Financing A Demand Regulation And Uncertainty Framework
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Author : Muhammad Nouman
language : en
Publisher:
Release Date : 2018
Why Islamic Banks Tend To Avoid Participatory Financing A Demand Regulation And Uncertainty Framework written by Muhammad Nouman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Participatory financing arrangements including Musharakah and Mudarabah are the essence of Islamic banking and represent the true spirit of Islamic banking and finance. Therefore, Islamic banks are expected to allow and promote participatory financing. In practice, they do not adopt participatory financing on the assets side due to several constraints. By far, the non-participatory financing arrangements, particularly Murabahah and Ijarah, are the most dominant modes of financing around the globe. Many authors have provided different explanations for the tendency of Islamic banks to avoid participatory financing. However, literature is divergent and the typology of the constraints to participatory financing is missing. Therefore, there is no unified understanding of the constraints to participatory financing. The present study employs insights form the extant literature using a systematic literature review and synthesizes a coherent participatory financing constraints framework using the thematic synthesis method to name and make sense of what makes participatory financing a less attractive option for Islamic banks. This study adds to the Islamic banking and finance literature by synthesizing the divergent literature, and conceptualizing a participatory financing constraints framework which can be used as a dependable framework for assessment in any related case study and policy implications. Moreover, it demonstrates an application of systematic review in Islamic banking research.
The Lender Of First Resort Shari Ah Compliant Finance A Post Crisis Outlook
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Author : Maʻn Barāzī
language : en
Publisher:
Release Date : 2009
The Lender Of First Resort Shari Ah Compliant Finance A Post Crisis Outlook written by Maʻn Barāzī and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Banking law (Islamic law) categories.
Islamic Finance For Green And Sustainable Projects And Ventures
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Author : Mohamed Ebrahim
language : en
Publisher:
Release Date : 2019-11-05
Islamic Finance For Green And Sustainable Projects And Ventures written by Mohamed Ebrahim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-05 with categories.
In recent years, the United Nations - Sustainable Development Goals (SDG's) have risen to the top of the development agenda, with an emphasis on a partnership approach between the financed and financier. Given the scale of the financial resources required to support the SDG's, coupled with the strain on government budgets, the mobilization of financing through innovative instruments becomes imperative. Islamic finance, through the Maqasid al Sharia - Islamic moral economy values being the foundation for Islamic finance, where participatory modes of finance take centre stage. Hence, the potential of the use of Islamic finance to support "Green" investments to finance the SDG's this has been receiving increased attention. With recent issues of "Green" Sukuk to finance climate friendly projects, water and sanitation projects, clean energy projects. This is enhanced by the rise of the class of Ethical Social Governance (ESG) friendly investor and investment manager, who will mobilise the funds for investing in green sustainable projects. This is enhanced by the rise of the class of Ethical Social Governance (ESG) friendly investor and investment manager, who will mobilize the funds for investing in green sustainable projects. It is in this melting pot of ESG, Islamic moral value-based financial products, and impact investing, where innovative participatory finance will fusion to enable funding for green sustainable projects to actualize the SDG's, that this book is about.
Islamic Finance Risk Sharing And Macroeconomic Stability
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Author : Muhamed Zulkhibri
language : en
Publisher: Springer
Release Date : 2019-02-20
Islamic Finance Risk Sharing And Macroeconomic Stability written by Muhamed Zulkhibri and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-20 with Business & Economics categories.
The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance. Many theoretical studies generally claim superiority of an Islamic financial system based on pure equity and participatory modes of financing, while empirical studies provide mixed results. Studies and discussions are needed to fully understand how Islamic finance could contribute to the ongoing discussion of financial stability. Against this background, this book addresses various aspects of Islamic finance and the risk-sharing mechanism contributions to the overall macroeconomic and financial stability. Undoubtedly, the findings and recommendation from this book should be of great interest not only to future academic researchers in the field of macroeconomic stability and Islamic finance, but also to policy makers and regulators who are keen on drawing lessons from Islamic finance experiences to prevent similar crisis in the future.
The Islamic Financial System
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Author : Sami Tamer
language : en
Publisher: Peter Lang Publishing
Release Date : 2005
The Islamic Financial System written by Sami Tamer and has been published by Peter Lang Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This study deals with the Islamic financial system and investigates the financial instruments utilized in it. Apart from the problems related to the prohibition of interest, the suggested concept for the Islamic financial system could not be applied in practice. Profit and Loss-Sharing instruments have been utilized on a small scale so far and it would be very difficult to increase the attractiveness of these financial instruments without easing Islamic legal restrictions or at least reconsidering relevant issues from both, the Islamic socio-economic and ethical viewpoint, as well as the position of conventional finance. An improvement of efficiency may not be possible without taking a fresh look at Islamic injunctions while considering at the same time contemporary financial realities and needs such as investment opportunities, risk diversification and regulatory issues.
Legal Framework For Islamic Banking Pakistan S Experience
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Author :
language : en
Publisher:
Release Date : 1991
Legal Framework For Islamic Banking Pakistan S Experience written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Baking law (Islamic law) categories.
Islamic Banking
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Author : Habib Shirazi
language : en
Publisher: Lexis Law Publishing (Va)
Release Date : 1990
Islamic Banking written by Habib Shirazi and has been published by Lexis Law Publishing (Va) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.
The law relating to banking practice in Islamic countries is a subject that is of continuing importance. For example, the Koran prohibits the charging of interest and banks frequently have to resort to complex legal arrangements to conduct their business. The central role Islam plays in the politics and economy of a number of financial centres means that the problems are very far from being academic. It was originally written for the Central Bank of Iran and is now to be made available in English.