This paper argues that risk sharing is an effective method of expanding participation of agents in economic growth and development and more effective sharing of fruits of prosperity than risk transfer that currently dominates financial systems. Kuala Lumpur Declaration of 2012, by a group of...

Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References