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

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf free download. I came to the United States on my own from Egypt to study for my MS and PhD degrees at the University of Wisconsin, Madison in 1968. I had essentially nothing except my BS degree in Chemical Engineering from Cairo University and a letter from the University of Wisconsin, Madison accepting me as an International Special Student on a trial basis.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

I did not have the funds to pay for tuition nor for accommodations, books, and other expenses. It was a big challenge for me, but I made it, through hard work, to where I am today managing a pioneering effort in America to establish what I consider a revival of the banking system that built America. Using a platform we call the LARIBA system (www.LARIBA.com), we offer socially responsible, faith-based, and riba-free banking. Throughout this book, I will abbreviate it as RF banking.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

In 1987, a group of dedicated friends invested $10,000 each to start a small company we called American Finance House LARIBA. We gathered $200,000 as the startup capital. To my knowledge, this was the first time ever a group of Muslims had bonded together to start a joint project that would eventually become an important force in the American Muslim community and in many non-Muslim communities. Our goal was to start a finance company that would operate without the charging of interest and according to the foundations of Islamic law (Shari’aa). Today, in 2009, and after 22 years the LARIBA shareholders own LARIBA (www.LARIBA. com), the oldest Islamic RF finance company in the United States, and the Bank of Whittier (www.BankOfWhittier.com), a national bank.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

The LARIBA System (the finance company LARIBA and the Bank of Whittier, NA) serves all 50 states in America and services a portfolio of riba-free shari’aacompliant financing that is worth approximately $400 million. The portfolio includes home mortgages, automobiles, fast food franchises, medical doctors’ clinics, dialysis centers, commercial buildings, schools, churches, and Islamic centers. It was, and continues to be, a wonderful journey.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

This book is a strong effort to introduce this new brand of banking, which is based on the Judeo-Christian-Islamic value system while upholding the laws of America. I must acknowledge that, after traveling the world over and doing business in many nations, I concluded that only in the United States can a new immigrant realize his/her dreams, even with a new idea that might have looked unbelievably outrageous at the time. I am deeply indebted to Almighty God, who created the reasons for me to come to America, start a family, and live here.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

I am thankful to my fellow Americans of all faiths and backgrounds for making our country, the United States of America, what it
is. It is unfortunate that America is viewed internationally through the lens of Hollywood movies and the sometimes controversial aspects of our foreign policy. It is unfortunate that the wonderful average American neighbor, colleague, farmer, worker, professional, student, and volunteer do not get a chance to be fully and fairly represented and exposed to the United States and the rest of the world.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

My feeling as a Muslim moving to live in the United States was one of curiosity. Moving to America changed my social standing and grouping; I went from a majority Muslim country to being a member of the Muslim minority in the United States, which was an unknown minority belonging to an unknown religion at that time. Reflecting on it, I concluded that God in His infinite wisdom wanted us Muslims in the United States to experience living as a minority. If we were wise, we, the Muslims, would learn from this golden opportunity and better understand how to deal with non-Muslim minorities in the Muslim majority countries.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf
At the same time, we might be able to further enrich a country that was—after all—built by successive waves of immigrants, each bringing something new to the broader culture of the nation. Being a member of the small Muslim minority created an interesting basic feeling, an instinct and need to discover ones’ roots and to define whom one really is. That was the beginning of our journey, my wife and I, in the service of Islam in America in the form of serving the Muslim community and the integration of Islam and the American Muslim community to make them part of the unique American mosaic through interfaith and civic activities.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf
My story with Islamic finance began in Dallas, Texas in 1971. I had completed my PhD in chemical engineering, and my wife had completed her MS degree in chemical engineering. I got a job at the Production Research Center of Atlantic Richfield Co. (ARCO, which is now owned by British Petroleum). At the time, ARCO had just discovered oil in Alaska and was expanding its research on how to produce that oil and transport it south to the mainland under the most severe operating conditions. We moved from Madison, Wisconsin to Dallas, Texas in November 1971. We looked for a masjid (mosque) where we could perform our weekly congregational prayers (jum’aa). We started by looking for people with a Muslim last name.

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf

The Art of Islamic Banking and Finance Tools and Techniques for Community-Based Banking by Yahia Abdul-Rahman pdf


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