Participatory Islamic Finance / Progress in Mathematics (PDF)

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.

Dr. Muhammad Nouman is currently serving as senior lecturer at the Institute of Business and Management Sciences, The University of Agriculture Peshawar, Pakistan. He has nearly thirteen years of teaching and research experience. He has also served at a Software house as a project manager and HR trainer. In addition, he also has exposure of working at the GPI Fund (pension fund management department) of Khyber Pakhtunkhwa (a northern province of Pakistan), and a Securities brokerage firm. Nouman has been a part of editorial boards of a number of journals related to Islamic banking and finance, investment management, and corporate finance. Moreover, he is member of apex academic and research committees of several Universities.

Dr. Karim Ullah is currently working as Tenured Associate Professor at Institute of Management Sciences, Peshawar Pakistan. He has been awarded twice by the Government of Pakistan Higher Education Commission, for being the author of two books on Islamic Finance,which have been declared as the best books of the country for years 2015 and 2017, respectively. He also led a team to won multiple grants included the financial innovation challenge fund of UK Department for International Development and Central Bank of Pakistan, to lead the establishment of Centre for Excellence in Islamic Finance. Karim Ullah has nearly 15 years of teaching, research, and consulting experience. He is part of multiple editorial boards of impactful journals related to Islamic finance, do consulting and trainings to financiers, and remain part of apex committees related to the policy and standard developments for Islamic finance in multiple countries.