Does Your Financial Institution Participate in Shariah Compliant Finance?
The most common requests we receive here at SFW are questions as to whether banks or brokerage houses “are Shariah-compliant?”
As a result of these numerous inquiries, for the past several weeks, we have carefully compiled a list of financial institutions active in the USA that have some form of tie to Shariah Compliant Finance.
In some cases, the entire institution is Shariah-compliant. In other cases, the overall institution is not Shariah-compliant but it has a division or subsidiary that is, or it offers a product that is Shariah-compliant. In still more cases, some of the entities listed below do not offer financial products at all, but play key roles in enabling Shariah Compliant Finance in the West.
We went to great lengths to confirm each of the names listed below. However, there may be institutions that we have overlooked. We encourage readers to contact us with questions, comments and criticisms via the Comments section below:
Accounting and Auditing Organization for Islamic Financial Institutions
Amana Mutual Funds Trust
Ameen Housing Cooperative
Bank of America
Anchor Finance Group
Beam Capital Management
The BMB Group
J.P. Morgan Chase
The Coca-Cola Company
Ernst & Young
The Fairfax Institute
Fiqh Council of North America
Harvard Law School
Iman Fund/Allied Asset Advisors
International Institute of Islamic Thought (IIIT)
International Islamic Financial Market
International Shariah Research Academy for Islamic Finance (ISRA)
Islamic Financial Services Board (IFSB)
Merrill Lynch & Co.
Moody’s Investor Services
Bank of New York Mellon
Royal Bank of Scotland (RBS)
Standard Chartered Bank
Standard & Poor’s
University Islamic Financial Corporation
Wafra Investment Advisory Group
Bank of Whittier
Wolters Kluwer Financial Services
World Islamic Economic Forum
Hi there, I am just wondering where we can find proof that this is happening and in what capacity each bank is involved.
This would be a huge case for the FBI, they would be all over it.