Details

Subject(s)

• Banks and banking—Islamic countries [Browse]
• Banks and banking—Religious aspects—Islam [Browse]
• Finance—Islamic countries [Browse]
• Finance—Religious aspects—Islam [Browse]

Series

• Wiley finance series. [More in this series]
• Wiley Finance Series

Summary note

• "Updated and expanded insights into Islamic banking and financeFrom 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 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"-- Provided by publisher.
• "This book explains the application of Shari'aa law to American banking and finance. The book describes the fundamentals of 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; and includes information on why RF banking is a socially responsible way to invest"-- Provided by publisher.

Notes

• Includes index.
• "+website"--Cover.

Bibliographic references

Includes bibliographical references and index.

Source of description

Description based on print version record.

Language note

English

Contents

• Intro
• The Art of RF (Riba-Free) Islamic Banking and Finance
• Contents
• Preface to the Second Edition
• Preface: My Story with RF (Islamic) Banking and Finance in America
• Acknowledgments
• About the Book Cover
• CHAPTER 1 Introduction
• NOTES
• CHAPTER 2 The Faith-Based Judeo-Christian-Islamic Foundation of the Prohibition of Interest and the RF (Riba-Free) Banking System
• ISLAM: THE ADDITIONAL AND CLOSING LINK IN THE CHAIN OF JUDAISM AND CHRISTIANITY
• AN INTRODUCTION TO THE JUDEO-CHRISTIAN-ISLAMIC FOUNDATIONS OF FAITH
• The Book
• The People of the Faith
• Loans
• Usury/Interest
• THE JUDAIC POSITION ON THE CHARGING OF RIBIT (INTEREST): MONEY, LENDING, AND INTEREST IN THE TORAH AND THE JEWISH TRADITION
• Loans to the Poor
• Lending to Non-Jews with Interest
• Business Financing
• THE CHARGING OF RIBIT (INTEREST) IN THEROMAN CATHOLIC TRADITION: THEN AND NOW
• Lending to the Poor
• Position of the Contemporary Roman Catholic Churchon Allowing the Charging of Interest
• THE CHARGING OF RIBIT (INTEREST) IN THE TRADITION AND TEACHINGS OF THE EVANGELICAL CHRISTIAN CHURCH
• Lending to the Enemy
• Business Financing and Relaxation of the Rules of Prohibiting the Charge of Interest
• THE PROHIBITION OF CHARGING OF RIBIT/RIBA (INTEREST/USURY) IN ISLAM
• The Development of the Universal RF System in Islam
• The Concept of God Owning Everything
• Developing the Institution of Giving (Zakah) as a Required Islamic Ritual (Like Prayers)
• Behavioral Guidelines and the Discipline of Giving
• Business Finance
• Types of Riba
• Riba al-Jahiliyah
• Riba al-Fadl
• The Law (Shari'aa) Prohibits Deceptive and Speculative Activities in Business Transactions (Gharar)
• REVIEW QUESTIONS
• CHAPTER 3 The RF Valuation Disciplines of Commodity Indexation and Marking to the Market.
• DEVELOPMENT OF THE MARK-TO-THE-MARKET RULE
• RIBA-FREE BUSINESS TRANSACTION MODELS
• Cost-Plus (Murabaha)
• Leasing (Ijara) Rules
• The RF Legal Foundation on Leasing
• Process
• Joint Venture (Musharaka) Direct Investment/Equity Ownership or Partnership
• Money Management (Mudaraba)
• Financing Future Production (Ba'i ul Salam)
• CHAPTER 4 The Law: The Judeo-Christian-Islamic Shari'aa
• THE LAW: SHARI'AA
• Sources of Shari'aa
• The Qur'aan
• The Way of Life (Sunnah) of the Prophet
• The Science and Foundation of Scholarly Research, or "Usul Ul Fiqh"
• Performing Scholarly Research to Develop and Pass Religious Edicts and Rulings: The Process of Issuing a Fatwa (An Edict)
• The Ultimate Intent and Goals of the Law (Shari'aa): Maqasid Al Shari'aa
• THE SHARI'AA BOARD IN AN RF (ISLAMIC) BANK OR FINANCE COMPANY
• The Role of the Shari'aa Board
• Duties of the Shari'aa Board at the RF Bank
• Approaches Used to Appoint Shari'aa Boards
• Concerns of Western Central Bankers and Bank Regulators Regarding Shari'aa Boards
• THE DEVELOPMENT OF RF SCHOLARS AND COMPLIANCE COMMITTEES FOR RF FINANCE INSTITUTIONS IN THE TWENTY-FIRST CENTURY
• The Central Bank and the Regulatory Shari'aa Compliance Committee
• CHAPTER 5 Money and Its Creation: The U.S. Federal Reserve System (Central Banks) and Interest Rates
• THOSE WHO "MAKE" MONEY AND OTHERS WHO "EARN" MONEY
• What Is Money?
• The History of Money
• Fiat (Paper) Money
• American Currency before the Federal Reserve System
• THE FEDERAL RESERVE BOARD OF THE UNITED STATES OF AMERICA
• Function of the Federal Reserve
• Structure of the Federal Reserve Board (America's Central Bank)
• Who Owns the Federal Reserve Bank?
• Credit Creation in the Modern Banking System-The Money Multiplier Concept.
• A BRIEF HISTORY OF THE BRETTON WOODS AGREEMENT
• GOLD: THAT AMAZING METAL
• Gold Reserves in the World
• The History of Gold Markets and Prices
• Setting the Market Price of Gold: Gold Price Fixing
• The Fed Fund Interest Rates Setting Regime: The Taylor Rule
• Real and Nominal Interest Rate
• The Fiat Money Economy
• The U.S. Dollar's Role as an International Reserve Currency and the Developing Nations (Also Called Less Developed Nations)
• CHAPTER 6 Towards an RF Monetary Discipline: The RF Commodity Indexation Discipline
• THE CYCLICAL NATURE OF THE FIAT MONEY ECONOMY
• THE PROHIBITION OF RIBA/RIBIT
• Reason for Prohibition
• Application of the RF Law Using the RF Commodity Indexation Discipline
• Toward an RF Monetary Theory and Discipline
• Development of an RF Monetary System to Develop a Fair RF Pricing Discipline
• ANALYSIS OF PRICES OF HOMES, COMMODITIES, AND STOCK MARKETS IN THE UNITED STATES USING THE COMMODITY INDEXATION DISCIPLINE
• Homes in America
• Price of Coal
• Price of Crude Oil
• Price of Natural Gas
• Price of Rice
• A PROPOSED BEGINNING OF A NEW ERA THAT USES THE RF MONETARY DISCIPLINE
• CHAPTER 7 Civility and Social Responsibility of the RF Banking System
• THE JUDEO-CHRISTIAN-ISLAMIC VALUES: CIVILITY, MORALITY, AND SOCIAL RESPONSIBILITY
• THE VISION OF AN IDEAL FAITH-BASED JUDEO-CHRISTIAN-ISLAMIC SOCIETY
• NEW TRENDS THAT CAPTURED THE IMAGINATION OF THE PAGANS OF THE ARABIAN PENINSULA-LESSONS TO LEARN FROM
• ELEMENTS OF THE RF ECONOMIC SYSTEM
• Production
• Distribution
• Consumption
• THE RF JUDEO-CHRISTIAN-ISLAMIC SYSTEM AND BUSINESS ETHICS
• The RF Market System
• The RF Management Ethics
• Justice and Fairness on Both Sides: The RF Bank and the Customer
• BANKING AND INVESTMENT BANKING.
• VALUES AND BUSINESS ETHICS OF THE RF BANKER
• Professionalism
• Concentration
• Consistency
• Commitment
• THE 10 GOLDEN COVENANTS OF THE RF BANKER
• THE RF BANKING DISCIPLINE: WHERE DO WE START AND HOW DO WE REALIZE THE DREAM?
• CHAPTER 8 The Conventional Riba-Based Banking System
• THE BANKING SYSTEM OF THE UNITED STATES
• TYPES OF BANKING SERVICES IN THE UNITED STATES
• National Banks
• State Banks
• Credit Unions
• Investment Banks
• Licensing a Commercial Bank in the United States
• GOVERNMENT SUPERVISION OF THE BANK
• The Office of the Comptroller of the Currency
• The OCC's Objectives
• OCC Funding
• Insurance of Bank Deposits by the Federal Deposit Insurance Corporation (FDIC)
• U.S. BANKING REGULATIONS
• Consumer Compliance Management
• Board of Directors and Management Supervision and Administration
• Compliance Program
• Compliance Committee
• Duties, Responsibilities, Authorities, and Accountability of the Compliance Committee
• Internal Controls
• Organizational Structure
• Policies and Procedures
• Training
• Compliance Audit Function
• SUMMARY OF FEDERAL BANKING REGULATIONS IN THE UNITED STATES
• Regulation B: Equal Credit Opportunity
• Fair Lending Policy
• General Policy Statement
• Advertising
• Applications and Information Gathering
• Application Processing and Evaluation and Loan Application Second Review Process
• Credit Extension
• Notification
• Record Retention
• Government Monitoring Program
• Fair Lending Training
• Regulation C: Home Mortgage Disclosure Act (HMDA)
• Purpose of the Act
• Reporting Requirements
• Denial Reasons and Other Data
• Disclosure
• Training and Oversight Responsibilities
• Regulation Q: Prohibition against Payment of Interest on Certain Deposit Account Types.
• Regulation D: Reserve Requirements for Depository Institutions (Banks)
• Regulation O: Loans to Bank Insiders
• Regulations P and S
• Regulation Z: Truth in Lending Act (TILA)
• Regulation BB: Community Reinvestment Act (CRA)
• Regulation DD: Truth in Savings Act
• Fair Credit Reporting Act
• Anti-Money Laundering (AML) Program
• Bank Examination for Safety and Soundness by Bank Regulators
• Bankruptcy Laws
• CHAPTER 9 Comparing RF Banking and Conventional Riba-Based Banking: What Is the Difference?
• THE RF BANKING BRAND: HISTORY, DEVELOPMENT, AND STAGES OF GROWTH
• AN OVERVIEW OF RF BANKING
• Misnomers in RF Banking
• What Is RF (Islamic) Banking?
• What Is the Difference between Riba-Based Conventional Banking and RF (Islamic) Banking?
• CHAPTER 10 RF (Islamic) Banking in the Twentieth Century
• RF (ISLAMIC) BANKING MODELS
• The Cost-Plus (Murabaha) Model
• Financial Engineering and the Law (Shari'aa)
• The Lease-to-Own Models (Al-Ijarah Wal Iqtina or Al-Ijarah Wal Tamaluk)
• The Al-Baraka Shari'aa-Compliant Model
• The South Asian Diminishing Musharaka Shari'aa-Compliant Model
• Application of the South Asian Shari'aa-Compliant Model
• COURT CHALLENGES TO THE SHARI'AA-COMPLIANT "CONTRACT FITTING" USED BY SOME ISLAMIC FINANCE APPROACHES
• Cases Litigated in the U.K. Courts
• Resolutions Taken by "Islamic" Banks to Avoid Lengthy Trials
• CONCLUSION
• CHAPTER 11 RF Banking Model for the Twenty-First Century: The LARIBA RF Model: Developing the Shari'aa-Based Finance Model
• THE PUZZLE AND THE CHALLENGE OF DEVELOPING RF BANKING AND FINANCING
• Legal and Financial Categories
• Participants in the Development of Modern RF Banking
• Muslim Puritans
• Monetarists
• Religious Leaders.
• Academics and University Professors of Economics and Finance.

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Other title(s)

• Riba-free Islamic banking and finance
• Tools and techniques for community-based banking

ISBN

• 9781118792551
• 1118792556
• 9781118771150
• 111877115X

OCLC

• 880929624
• 904284830

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