المشاركة المتزايدة من خلال المواعدة التكرارية و التحوط التشاركي

Abstract EN

This paper proposes an Islamic financing product based on increased participation through the incorporation of recurring mutual promises.

The product is based on three-tier increasing musharakah (partnership).

In the primary stage, it brings together the entrepreneur and the Islamic bank.

In the next stage, a third party, which we call the 'participative hedger', enters into the partnership relationship.

The contractual relationship is characterized at the initial stage by studying the characteristics of the project and defining the contractual terms related mainly to the participative hedger's role of injecting funds to cover loss-whenever it exists- according to recurring mutual promises.

In return for this undertaking, the participatory hedger gains a share in the profit and loss in a dynamic manner as a third participant in the capital immediately after the first injection, and he repeatedly commits to covering the risk of financial flows.

This financial structuring constitutes a different way of applying the principle of profit-and-loss sharing, which Islamic banks have been relatively unsuccessful in developing products based upon.