Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective

Risk-Sharing Finance : An Islamic Jurisprudence (Fiqh) Perspective

De Gruyter

Risk-Sharing FinanceAn Islamic Jurisprudence (Fiqh) Perspective\nAuthor(s): Saad Bakkali, Abbas Mirakhor\nFormat: Hardback\nPublisher: De Gruyter, Germany\nImprint: De Gruyter Oldenbourg\nISBN-13: 9783110590463, 978-3110590463\nSynopsis\nThe 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. \n\nIn 2012, a gathering of some .

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