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islamic finance companies in usa

Fadiyah Sameh
Fadiyah Sameh
Posted: 2015-03-04

Phenomenal growth of Muslim population in the United States has lead to creating business opportunities for them which are in-line with Shari’ah and as per Islamic laws. This gave rise to the concept of Islamic Financing back in 90s. Today, we see numerous Islamic Financing Centers including banks, Mortgage House, Micro-Financing options etc. A brief description to some of those is given below. 1.LARIBA- Islamic Finance House LARIBA - Standing as the oldest Community-owned, Shari’ah Compliant and Riba-free Finance Company, is serving Community in USA since 1987. Lariba is providing phenomenal services to Muslims in USA ranging from home financing and re-financing, auto-finance, financing for business and entrepreneurship services, mortgage and riba-free banking services. 2.University Islamic Finance (UIF) A majority-owned subsidiary of University Bank, UIF is serving Muslim community for over a decade. Since inception in 2003, their main aim is to serve the community under Shari’ah laws. UIF is currently working towards fulfilling the needs in areas like banking including Personal Profit-Sharing Shari’ah Accounts and Business Profit-Sharing Shari’ah Accounts. It is also serving for financing opportunities like Home Financing, Community Centre Real Estate, Commercial Real Estate and Realtor Partnerships etc. 3.Ijara Islamic Financing Ijara Islamic Financing is an Islamic structuring company which acts as a liaison between Muslim consumers and banking facilities. Their main aim is to serve the community with consultation about Islamic loan and finance solutions through LaRiba or Shariah compliant no interest financing methods. 4.Dallah Al-Barakah Dallah Al-Barakah is yet another Saudi based Investment and Banking firm having a vision to develop and assist Muslim society around the world. They are operational in North America with a wide range of economic and business ventures into banking, riba free investments, Shari’ah compliant estate and business financing options. Its operations are in and around California. 5.Muslim Saving & Investment Financial Services MSI is considered to be one of the oldest financial services provider reaching out to Muslims in USA with services including banking, accounts management, riba-free investment opportunities etc. Their main aim is to serve Muslims with the most convenient Islamic banking facilities being in USA.

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