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The Art of RF (Riba-Free) Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, 2nd Edition

The Art of RF (Riba-Free) Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, 2nd Edition

Yahia Abdul-Rahman

ISBN: 978-1-118-79255-1

Nov 2014

544 pages

Description

Updated and expanded insights into Islamic banking and finance

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.

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Preface to the Second Edition vii

Preface: My Story with RF (Islamic) Banking and Finance in America xiii

Acknowledgments xxix

About the Book Cover xxxvii

CHAPTER 1

Introduction 1

CHAPTER 2

The Faith-Based Judeo-Christian-Islamic Foundation of the Prohibition of Interest and the RF (Riba-Free) Banking System 15

CHAPTER 3

The RF Valuation Disciplines of Commodity Indexation and Marking to the Market 55

CHAPTER 4

The Law: The Judeo-Christian-Islamic Shari’aa 75

CHAPTER 5

Money and Its Creation: The U.S. Federal Reserve System (Central Banks) and Interest Rates 101

CHAPTER 6

Towards an RF Monetary Discipline: The RF Commodity Indexation Discipline 137

CHAPTER 7

Civility and Social Responsibility of the RF Banking System 179

CHAPTER 8

The Conventional Riba-Based Banking System 207

CHAPTER 9

Comparing RF Banking and Conventional Riba-Based Banking: What Is the Difference? 247

CHAPTER 10

RF (Islamic) Banking in the Twentieth Century 261

CHAPTER 11

RF Banking Model for the Twenty-First Century: The LARIBA RF Model 285

CHAPTER 12

Putting the RF Finance Movement and Discipline Together 345

CHAPTER 13

Starting an RF Bank in the United States 361

CHAPTER 14

RF Capital Markets 399

CHAPTER 15

Case Studies 431

CHAPTER 16

RF Credits (Loans) in Contrast to Types of Riba-Based Loans 449

CHAPTER 17

The RF Approach to Handling Troubled and Nonperforming Credits (Loans) 463

CHAPTER 18

Visions for the Future of RF Banking 471

CHAPTER 19

RF Banking: A New Banking Brand for the Twenty-First Century 483

About the Companion Website 487

Index 489