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

by Yahia Abdul-Rahman

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.

Genres: Finance

544 pages, Kindle Edition

First published January 1, 2009

Reviews

[Deniel Floria · Rating 4 out of 5]

Islamic banking and especially the alternative for the "mortgage" in Islamic banking is becoming an increasingly widespread alternative in many Muslim countries. And is also looked at with interest in the West.

It's growing in popularity because in Islam, asking for interest is seen as Haram. So, what they do instead is: the bank buys the house for you, then it sells it to you at the price of the house plus what you would've payed in interest otherwise, and then you take a loan at 0% interest at that amount.

It is an interesting alternative in that it leads to a more stable monthly cost for the consumer, rather than being subject to changes in the interest you pay, due to macro-economic circumstances outside of your control. And if central banks keep inflation low and stable, it also creates a more stable and predictable revenue stream for the bank. Making it a good stable investment to have as compensation for the more risky investments in your investment portfolio.

[Ksswift · Rating 5 out of 5]

Excellent book that compares the reality of Islamic finance compared to the reality of US banking and the desired state that Judeo/Christian/Muslim early doctrine about the role of interest and finance should hold. I have learned much from the book.

[Arum]

Walaupun cuma baca awal-awalnya aja saya terharu betapa tulusnya beliau mengusahakan institusi keuangan yang bebas Riba dan pesan beliau untuk generasi penerus. Kemudian saya juga jd lebih paham bahwa ternyata perkembangan Islam maupun ekonomi syariah di berbagai negara berbeda-beda sekali.

[Khaled Fouad · Rating 5 out of 5]

Thorough and informative

Amazing blueprint to establish a socially responsible and riba free financial institution. Touches upon core principles shared in the abrahamic Faiths.