“While an option to create resilient financial and economic systems is to adopt risk-sharing financing, these modes are not well-understood and are challenging to apply. This book, participatory Islamic Finance,  provides an in-depth discourse on the Shariah, theoretical and practical perspectives on participatory capital and how these can be applied to provide inclusive finance and promote a stable, fair and equitable economy.  Focusing on partnership contracts of mudarabah and musharakah and presenting practices from different countries, this study provides unique insights on how these modes of financing can be applied in reality and helps to reduce the use of debt based instruments that increase fragility of businesses and economies.”

—    Professor Habib Ahmed, Durham University Business School, United Kingdom.

“The authors of “Participatory Islamic Finance:  The Ideals, Contemporary Practices, and Innovations” have rendered a great service in building the narrative of participatory modes in Islamic finance based on qualitative research methodology. With the case study-based review of the participatory financing practices in Iran, Pakistan, Sudan, Malaysia, and Türkiye, the book presents an innovative approach to both understanding and practicing Islamic finance in various jurisdictions. Risk and reward participation for valid and ethical return is the unique feature of Islamic finance though al lawful modes and tools could lead to the realization of maqāsid al shariah, if applied in their true spirit. Participatory modes are, however, ideal for realizing the objectives of social justice and social inclusion in any economy.”

—    Professor Dr. Muhammad Ayub, Riphah University, Islmabad, Pakistan.

“For me the “Participatory Islamic Finance” is an  exceptional book, which weaves  participatory finance, Maqasid al Shariah and higher ethical objectives of Islam in an entirely new foresight.  It walks through the developments in participatory finance, historically and through various countries of the world. It  has adopted a concrete system approach in addressing the lacunas in  participatory finance. It makes the readers and practitioners come out  of their comfort zones and look at things with the new wave of awareness just created through their synthesis which is both factual, thorough  and interesting.”