The Development of Islamic Finance in USA: A journey of growth and opportunity

[Deeq A.]

Islamic finance, established in the 1960s, has gained global traction due to its universal ethical principles. Even in the United States, it has been widely embraced, thanks to favorable environments and political backing. The country, known for financial innovation and economic prowess, has seen a surge in Islamic finance, rooted in ethical principles and Sharia compliance. This alternative financial system has piqued the interest of both Muslim and non-Muslim communities across the nation. Of particular appeal are Sukuk (Islamic bonds), which can be utilized by American entities and the US government to raise funds for various business, social, and educational initiatives.

Source: Hiiraan Online