The Art of Islamic Banking and FinanceTools and Techniques for Community-Based Banking (Wiley Finance)
The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into everyday banking and investment techniques by introducing a new brand of banking for all people of all faiths: The Riba-Free (RF) banking.
The author is considered the father of RF (Islamic) banking in America. He has been a banker and an Imam/scholar for over 40 years in America since 1968. He started the tedious process with a finance company, LARIBA, in Pasadena, California in 1987. This is the first book ever in the field to trace the origins of prohibiting the renting of money at a price called interest rate and over-indulging in debt. The book reviews in great details the theological foundations of prohibiting interest in the Jewish Bible, the Christian Bible, and the Qur'aan. The author then discusses money and how fiat money is created, the role of the Federal Reserve, and the banking system in America. The book also discusses for the first time ever how to include an important aspect of RF (Islamic) finance using commodity indexation and marking the items to be financed to market in order to avoid participating in economic "bubbles." The author discusses how these rules work, how they affect consumer behavior, and how they change the role of the banker/financier.
* Covers a new pioneering model that is based on the Law (Shari'aa) and how it is applied in every transaction from joint ventures and portfolio management to home mortgages and personal financing
* Shows how to incorporate the Law (Shari'aa) into American financing and banking systems
* Points to RF (Islamic) finance and banking as a way to emphasize socially responsible investing
The Art of Islamic Banking and Finance also includes a discussion on the emergence of a culture of RF (Islamic) banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and very effective when compared to twentieth-century models that use financial engineering and structuring techniques to circumvent the Law (Shari'aa). The book also includes case studies based on the actual experience of the author and detailed analysis of the superior results realized by applying this new brand of banking to financing.
From the Inside Flap
The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into everyday banking and investment techniques. It introduces a new brand of banking for people of all faiths: the Riba-Free (RF) banking.
Author Yahia Abdul-Rahman—who is considered the father of RF (Islamic) banking in America—has been a banker and an imam/scholar for over forty years. He is also the founder and Chairman of American Finance House: LARIBA, a company that has offered Islamic finance and banking research and instruments for more than twenty years. Now, in The Art of Islamic Banking and Finance, Abdul-Rahman shares his experiences in this field with you.
This unique guide first traces the Judeo-Christian-Islamic origins of prohibiting "renting" money at a price, called interest, and overindulging in debt. From there, it quickly moves on to discuss money and how fiat money is created, the role of the Federal Reserve, and the American banking system. Along the way, Abdul-Rahman skillfully addresses how to include an important aspect of RF (Islamic) finance using commodity indexation and marking the items to be financed to market in order to avoid participating in economic "bubbles." He also examines how these rules work, how they affect consumer behavior, and how they change the role of the banker/financier. The book covers many useful quests like restructuring and operating an RF bank in the United States and the recruiting and training of RF bankers based on the author's experience.
Chapter by informative chapter, this reliable resource:
*Covers a new pioneering model that is based on the Law (Shari'aa) and how it is applied in every transaction—from joint ventures and portfolio management to home mortgages and personal finance
*Shows how to incorporate the Law (Shari'aa) while operating in American financing and banking systems
*Points to RF (Islamic) finance and banking as a way to emphasize socially responsible investing
*And much more
The Art of Islamic Banking and Finance also includes a discussion on the emergence of a culture of RF (Islamic) banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and is very reliable when compared to twentieth-century models that use financial engineering and structuring techniques to circumvent the Law (Shari'aa).
Filled with comprehensive case studies based on the author's actual experiences and detailed analysis of the superior results realized by applying this new brand of banking to financing, The Art of Islamic Banking and Finance will help you gain a firm understanding of how effective this proven approach can be.
The author is considered the father of RF (Islamic) banking in America. He has been a banker and an Imam/scholar for over 40 years in America since 1968. He started the tedious process with a finance company, LARIBA, in Pasadena, California in 1987. This is the first book ever in the field to trace the origins of prohibiting the renting of money at a price called interest rate and over-indulging in debt. The book reviews in great details the theological foundations of prohibiting interest in the Jewish Bible, the Christian Bible, and the Qur'aan. The author then discusses money and how fiat money is created, the role of the Federal Reserve, and the banking system in America. The book also discusses for the first time ever how to include an important aspect of RF (Islamic) finance using commodity indexation and marking the items to be financed to market in order to avoid participating in economic "bubbles." The author discusses how these rules work, how they affect consumer behavior, and how they change the role of the banker/financier.
* Covers a new pioneering model that is based on the Law (Shari'aa) and how it is applied in every transaction from joint ventures and portfolio management to home mortgages and personal financing
* Shows how to incorporate the Law (Shari'aa) into American financing and banking systems
* Points to RF (Islamic) finance and banking as a way to emphasize socially responsible investing
The Art of Islamic Banking and Finance also includes a discussion on the emergence of a culture of RF (Islamic) banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and very effective when compared to twentieth-century models that use financial engineering and structuring techniques to circumvent the Law (Shari'aa). The book also includes case studies based on the actual experience of the author and detailed analysis of the superior results realized by applying this new brand of banking to financing.
From the Inside Flap
The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into everyday banking and investment techniques. It introduces a new brand of banking for people of all faiths: the Riba-Free (RF) banking.
Author Yahia Abdul-Rahman—who is considered the father of RF (Islamic) banking in America—has been a banker and an imam/scholar for over forty years. He is also the founder and Chairman of American Finance House: LARIBA, a company that has offered Islamic finance and banking research and instruments for more than twenty years. Now, in The Art of Islamic Banking and Finance, Abdul-Rahman shares his experiences in this field with you.
This unique guide first traces the Judeo-Christian-Islamic origins of prohibiting "renting" money at a price, called interest, and overindulging in debt. From there, it quickly moves on to discuss money and how fiat money is created, the role of the Federal Reserve, and the American banking system. Along the way, Abdul-Rahman skillfully addresses how to include an important aspect of RF (Islamic) finance using commodity indexation and marking the items to be financed to market in order to avoid participating in economic "bubbles." He also examines how these rules work, how they affect consumer behavior, and how they change the role of the banker/financier. The book covers many useful quests like restructuring and operating an RF bank in the United States and the recruiting and training of RF bankers based on the author's experience.
Chapter by informative chapter, this reliable resource:
*Covers a new pioneering model that is based on the Law (Shari'aa) and how it is applied in every transaction—from joint ventures and portfolio management to home mortgages and personal finance
*Shows how to incorporate the Law (Shari'aa) while operating in American financing and banking systems
*Points to RF (Islamic) finance and banking as a way to emphasize socially responsible investing
*And much more
The Art of Islamic Banking and Finance also includes a discussion on the emergence of a culture of RF (Islamic) banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and is very reliable when compared to twentieth-century models that use financial engineering and structuring techniques to circumvent the Law (Shari'aa).
Filled with comprehensive case studies based on the author's actual experiences and detailed analysis of the superior results realized by applying this new brand of banking to financing, The Art of Islamic Banking and Finance will help you gain a firm understanding of how effective this proven approach can be.
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