Dow Jones indexes named best Shari’ah-compliant index provider
Dow Jones Indexes, a leading global index provider, today announced that it has been named “Best Shari’ah-Compliant Index Provider” by Global Finance magazine for the second consecutive year.
The Global Finance awards for World’s Best Islamic Financial Institutions honor those financial institutions that make significant contributions to the growth of Islamic finance and successfully meet their clients’ needs for Shari’ah-compliant products, while creating the foundation for continued fast growth in the future.
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Categories: Awards · Islamic Mutual Funds · United States of America
Tagged: Islamic Banking, Islamic finance
Islamic Home Insurance Launched in the US
When Babar Saeed heard about the first Islamic insurance product in the United States his first response was, “Tell me more and how can I sign up?” It’s a fact that true Shari’ah compliant insurance has finally arrived in the United States after various groups tried for 25 years.
But now, building on their innovative track record, Zayan has successfully launched the first Islamic homeowner’s insurance program in the US. Takaful is the final step in completing the range of Shari’ah compliant financial services offered in the United States and an impressive milestone for American Muslims.
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Categories: Takaful · United States of America
Tagged: Islamic Banking, Islamic finance, Takaful
Islamic laws of finance a cushion in hard times
The recession gripping the nation has taken less of a toll on American Muslims who follow age-old Islamic laws against paying – or charging – interest.
They’ve also been shielded by socially responsible retirement plans because Shariah– Islamic law – forbids investments in banks and mortgages as well as tobacco, alcohol, gambling, pornography or weapons.
"If everybody was Shariah-compliant, there would be no recession," said Farouk Fakira, a Yemeni immigrant who moderated a discussion on Islamic finance at Sacramento’s Masjid Annur last week.
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Categories: Financial crisis · United States of America
Tagged: Global financial crisis, Islam in America, Islamic Banking, Islamic finance
An international conference on Islamic Finance was held in New York City recently. The four day- conference focused on financial issues related with Islamic Shariah or religious laws.
Categories: Events · United States of America · Videos
