Islamic Finance Affairs

SunniPath Blog - » Why Money Matters Event Recording Posted
Faraz Rabbani at the SunniPath Academy

The recording for last Saturday’s live event, Why Money Matters, is now available.

You can watch the recording here. You can also download the slides from the event here.

Muslims have pent-up demand for financial services - InvestmentNews

Muslims in the United States number anywhere from 7 million to 10 million, and many are professionals, according to studies.

Yet for the majority, there are almost no outlets for their financing and in-vestment needs.

The reason is that Islamic law, or Shariah, doesn’t allow the charging or paying of interest, or investment in any industry involved in forbidden areas such as gambling, pornography, alcohol, tobacco or defense.

U.S. institutions have been slow to create an environment for developing Shariah-compliant instruments, due to a lack of legal and regulatory precedents, and a general lack of awareness, but not a lack of demand, observers said.

The pent-up demand is huge, said Akram Sheikh, senior vice president and chief financial officer of Anchor Finance Group in Hauppauge, N.Y., a Shariah-compliant business- and financial-consulting firm.

Shari`ah Supervision of Islamic Mutual Funds - Sh. Yusuf Talal DeLorenzo

Islamic mutual funds presently represent one of the fastest growing sectors within the Islamic financial industry. As Shari`ah supervision is an integral part of the industry, its place in relation to Islamic mutual funds is certainly no less important. My intention in this paper is to discuss in a general way the variety of functions performed by Shari`ah supervision and their importance. In doing so, I will make observations about the industry and suggestions for a better future.