{"product_id":"risk-sharing-finance-an-islamic-jurisprudence-fiqh-perspective","title":"Risk-Sharing Finance: An Islamic Jurisprudence (Fiqh) Perspective","description":"\u003cp\u003e\u003c\/p\u003e\u003cblockquote\u003e\n\u003cbr\u003eThe book \"Risk-Sharing in Contemporary Finance: An Islamic Jurisprudential Perspective\" explores the conceptualization of risk-sharing in Islamic finance, which has been criticized for replicating conventional risk-transfer debt contracts. The Kuala Lumpur Declaration of 2012 identified risk sharing as the essence of Islamic finance, and this book aims to develop a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. The book relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance. \u003c\/blockquote\u003e\u003cp\u003e\n                                                            \u003cstrong\u003eFormat\u003c\/strong\u003e: Hardback\u003cbr\u003e\n                              \u003cstrong\u003eLength\u003c\/strong\u003e: 141 pages\u003cbr\u003e\n                              \u003cstrong\u003ePublication date\u003c\/strong\u003e: 10 May 2021\u003cbr\u003e\n                              \u003cstrong\u003ePublisher\u003c\/strong\u003e: De Gruyter\u003cbr\u003e\n                          \u003c\/p\u003e \u003cp\u003e\u003cbr\u003eThe realm of contemporary finance revolves primarily around multilateral and multi-counterparty transactions, where Islamic Jurisprudence (Fiqh) has yet to fully conceptualize this financing mode. To date, it has become customary for significant financing projects to rely on a intricate network of interconnected bilateral contracts, resulting in a complex, opaque, and costly structure. Unfortunately, the absence of an effective Fiqhi model suitable for modern multilateral and multi-counterparty contracts has led to Islamic finance being criticized for replicating conventional risk-transfer (interest rate-based) debt contracts, thereby drawing severe critiques of duplicating traditional finance.\u003cbr\u003e\u003cbr\u003eIn 2012, a significant gathering of esteemed experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa), which recognized risk sharing as the fundamental essence of Islamic finance. This Declaration paved the way for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration serves as a motivating factor to seek a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions.\u003cbr\u003e\u003cbr\u003eFrom the perspective of Islamic Jurisprudence (Fiqh), the technicalities of risk sharing in contemporary finance have yet to be fully defined in Islamic literature. This book aims 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.\u003c\/p\u003e\u003cp\u003e\n                            \u003cstrong\u003eWeight\u003c\/strong\u003e: 390g\n                            \u003cbr\u003e\u003cstrong\u003eDimension\u003c\/strong\u003e: 180 x 245 x 15 (mm)\n                            \u003cbr\u003e\u003cstrong\u003eISBN-13\u003c\/strong\u003e: 9783110590463\n                            \n                          \u003c\/p\u003e","brand":"Saad Bakkali,Abbas Mirakhor","offers":[{"title":"Hardback","offer_id":44095287853306,"sku":"9783110590463","price":79.14,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/4297\/2845\/products\/f9795c5f62154c10eb1a662254bd5de2.jpg?v=1633921018","url":"https:\/\/shulphink.com\/products\/risk-sharing-finance-an-islamic-jurisprudence-fiqh-perspective","provider":"Shulph Ink","version":"1.0","type":"link"}