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 Poor -- 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 -- NOTES -- 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) -- REVIEW QUESTIONS -- NOTES -- 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 -- REVIEW QUESTIONS -- NOTES -- 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) -- REVIEW QUESTIONS -- NOTES -- 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 -- REVIEW QUESTIONS -- NOTES -- 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? -- REVIEW QUESTIONS -- NOTES -- 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 -- REVIEW QUESTIONS -- NOTES -- 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? -- REVIEW QUESTIONS -- NOTES -- 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 -- REVIEW QUESTIONS -- NOTES -- 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.