The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking
At the time of writing this book, the United States and the rest of the world were experiencing a major financial and economic m ...
the assets of which were invested inthe failed company’s stock or in mu- tual funds. Some also lost their homesafter losing thei ...
&Stated Income/No Docs Loans^1 required no documentation to get ap- proval! The only disclosure needed from the applicant wa ...
typically a young person, just graduated from—in most cases—high school, with no experience. They introduced themselves as the o ...
In contrast, today’s bankers have been lost—lost from the community— in the maze of trying to manufacture new products and schem ...
bankers should be trained to ask ‘‘Why do you need the money?’’ and de- cide whether the line of credit is justified and necessa ...
we met and interacted with many wealthy individuals, learned scholars, and experienced practitioners, as well as accomplished in ...
rules put forward by the Prophet Muhammad (pp)^6 to normalize mar- ket prices, in which he required the use ofcommodity indexati ...
second group, pioneered by the author, developed aShari’aa-basedapproach that uses the spirit and substance of the real intent a ...
&Chapter 13 includes examples drawnfrom real life to illustrate the development and application RF banking investment produc ...
CHAPTER 2 The Faith-Based Judeo-Christian- Islamic Foundation of the Prohibition of Interest and the RF (Riba-Free) Banking Syst ...
Mary, held in honor in this world and the Hereafter and of (the company of) those nearest to God. As the world grew, its resourc ...
more sophisticated communication systems, transportation methods, and trading routes, as well as new businesses, more integrated ...
faiths and philosophies.^9 Muslims are taught that participating in the culture and practice of interest (charging interest on l ...
Christians: Adherents to the Christian faiths abide by the Christian Bible. The Christian Bible comprises the Jewish scriptures, ...
The People of the Faith Jews:Amiin the Hebrew language means ‘‘my people’’ (i.e., the people of Moses or the people of the Jewis ...
church’s original prohibition against usury was slowly relaxed by using the wordinterestinstead of the wordusury. The original m ...
loan as a tool to control the needy by exploiting their labor or eventually confiscating their lands, houses, and crops. Histori ...
of sprawling villages, towns, and cities. Larger commercial trading cara- vans managed by money managers traded commodities and ...
When you lend money to any of my people, to the poor among you, you shall not be to him as a creditor, nor shall you impose upo ...
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