November 2014
Intermediate to advanced
544 pages
16h 50m
English
book
The Art of RF (Riba-Free) Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, 2nd Edition
by Yahia Abdul-Rahman
Content preview from The Art of RF (Riba-Free) Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, 2nd Edition
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 16 RF Credits (Loans) in Contrast to Types of Riba-Based Loans
Over the years the conventional riba-based banks developed a number of lending products to meet the market demand and to diversify product features in order to compete with each other to meet market needs and to attract new customers. These loan products are all based on the idea of renting money and using it for different uses by the customer to finance his or her financial needs. In this chapter, the different types of riba-based loans available on the market will be discussed and their RF applicability will be analyzed. The types of loans discussed in this chapter will include some of the popular types used by riba-based banks and will not include every type. As the reader develops a good grasp of the basic concepts, he or she can let their imagination and analytical capabilities go in order to develop RF credit products and services that comply and are based on the Judeo-Christian-Islamic Shari'aa law.
OVERDRAFT PROTECTION FOR HOLDERS OF CHECKING ACCOUNTS
Most banks in the United States offer their customer a credit facility called overdraft protection. It was designed to cover deficits in the checking account when a customer writes a check that is not covered by the balance available in the account. The bank, by applying this service, would honor the check, create an overdraft loan to balance the deficit in the account and charge an overdraft service fee that can range between $20 and $50 plus interest, ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.