The Art of RF (Riba-Free) Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, 2nd Edition
From Yahia Abdul-Rahman-the father of Riba-Free (RF) banking-comes the expanded edition of the definitive resource that offers an understanding for applying Islamic banking and financial practices. No matter what your faith or religious beliefs, the book shows how to take a modern American approach to incorporating Islamic financial principles into banking and investment techniques.
The Art of RF (Riba-Free) Islamic Banking and Finance describes the emergence of a culture of Islamic banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and has proven very effective when compared to 20th century models that use financial engineering and structural techniques to circumvent the Shari'aa Law. The author also reveals information about how fiat money is created, the role of the Federal Reserve, and the US banking system. Abdul-Rahman includes a wealth of real-life examples and offers an analysis of how this new brand of banking and financing yields superior results.
- Offers the fundamentals on Riba-Free (RF) banking
- Shows how to apply RF to everything from joint ventures and portfolio management to home mortgages and personal finance
- Reveals what it takes to incorporate Shariah Law into US financial systems
- Includes information on why RF banking is a socially responsible way to invest
Thoroughly revised and updated, this resource offers a handbook for applying Shari'aa law to American banking and finance.
Preface to the Second Edition vii
Preface: My Story with RF (Islamic) Banking and Finance in America xiii
About the Book Cover xxxvii
The Faith-Based Judeo-Christian-Islamic Foundation of the Prohibition of Interest and the RF (Riba-Free) Banking System 15
The RF Valuation Disciplines of Commodity Indexation and Marking to the Market 55
The Law: The Judeo-Christian-Islamic Shari’aa 75
Money and Its Creation: The U.S. Federal Reserve System (Central Banks) and Interest Rates 101
Towards an RF Monetary Discipline: The RF Commodity Indexation Discipline 137
Civility and Social Responsibility of the RF Banking System 179
The Conventional Riba-Based Banking System 207
Comparing RF Banking and Conventional Riba-Based Banking: What Is the Difference? 247
RF (Islamic) Banking in the Twentieth Century 261
RF Banking Model for the Twenty-First Century: The LARIBA RF Model 285
Putting the RF Finance Movement and Discipline Together 345
Starting an RF Bank in the United States 361
RF Capital Markets 399
Case Studies 431
RF Credits (Loans) in Contrast to Types of Riba-Based Loans 449
The RF Approach to Handling Troubled and Nonperforming Credits (Loans) 463
Visions for the Future of RF Banking 471
RF Banking: A New Banking Brand for the Twenty-First Century 483
About the Companion Website 487
YAHIA ABDUL-RAHMAN came to the United States from Egypt in 1968. In 1987, he founded LARIBA, a highly successful RF (riba-free) finance institution in Pasadena, CA. Today, LARIBA continues to specialize in RF financing and is frequently profiled in media outlets around the world. Dr. Abdul-Rahman has also co-funded numerous Islamic schools and community centers in the United States and Canada, and is a frequent lecturer worldwide on Judeo-Christian-Islamic issues including banking and finance in the United States, Canada, Europe, Asia, and the Middle East.