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The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking

Amazon.com Price:  $55.99 (as of 08/05/2019 17:56 PST- Details)

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Description

A detailed look at the fast-growing field of Islamic banking and finance

The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into on a regular basis banking and investment techniques by introducing a new brand of banking for all people of all faiths: The Riba-Free (RF) banking.

The creator is regarded as the father of RF (Islamic) banking in The us. He has been a banker and an Imam/scholar for over 40 years in The us 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 creator then discusses money and how fiat money is created, the role of the Federal Reserve, and the banking system in The us. The book also discusses for the first time ever how to include a very powerful aspect of RF (Islamic) finance the usage of commodity indexation and marking the items to be financed to market to be able to avoid participating in economic “bubbles.” The creator discusses how these rules work, how they have an effect on consumer behavior, and how they change the role of the banker/financier.

  • Covers a new pioneering model that may be 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 with the intention 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 creator and detailed analysis of the superior results realized by applying this new brand of banking to financing.

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