0. ISLAMIC FINANCE: THE UNITED STATES AND UNITED KINGDOM EXPERIENCES
Presenter Name: Vincenzo Paparo, Esq.

1. ISLAMIC FINANCE: THE UNITED STATES AND UNITED KINGDOM EXPERIENCES
Presented by: Vincenzo Paparo, Esq.

2. Muslims Residing in the U.S. and U.K. (Best Estimates)
Total Muslims worldwide approximately 1.5 billion (20%)
U.S.
Population Concentrations
2 to 7 million
Average Age
Much Younger than U.S. average
Average Income
Above the U.S. average
Immigration
U.K.
Population Concentrations
Approximately 2 million Muslims in U.K. (over 10 million in Western Europe)
Average Age
28 (13 years below overall average
Average Income
Significantly below average
Immigration
Potential Mortgage Market of 6 billion pounds

3. Islamic Finance Institutions in the U.S.*
Guidance Lamba Devon Bank University Bank Zayan Finance
Amana Mutual Funds Trust Azzad Funds Dow Jones Islamic Fund
* Dinarstandard.com
Finance
House Finance
House Community Bank Community Bank
House
Investments
Investments Investments
National with emphasis on Northeast and Midwest National with emphasis on CA, MI and TX Local: Chicago with some national transactions Local: Ann Arbor, MI with some national transactions National National National National
Home financing Business and Home financing Business, Home and Commercial financing Home financing, deposit products
Commercial Real Estate financing Mutual Fund Mutual Fund Mutual Fund

4. Other Islamic Financing Institutions in US
Abrar Investments, Inc., Stamford CT
Al-Baraka Bancorp Inc. Chicago
Al-Madina Realty, Inc., Englewood NJ
Al-Manzil Islamic Financial Services
Ameen Housing Co-operative, San Francisco
American Finance House
BMI Finance & Investment Group, New Jersey
Failaka Investments, Inc., Chicago IL
Fuloos Incorporated, Toledo OH
Hudson Investors Fund, Inc., Clifton NJ
MSI Finance Corporation, Inc., Houston TX
Samad Group, Inc., Dayton OH
Shared Equities Homes, Indianapolis IN
HSBC, USA
MEF Money, USA
Islamic Credit Union of Minnesota, (ICUM)
United Mortgage

5. Islamic Financing Institutions in UK*
Albaraka International Ltd, London
Albaraka Investment Co. Ltd, London
Al Rajhi Investment Corporation, London
Al Safa Investment Fund
Bank Sepah, Iran
Dallah Al Baraka (UK) Ltd., London
Takaful (UK) Ltd, London
Barclays Capital
HSBC Amanah Finance
ABCIB Islamic Asset Management, Arab Banking Corp.
*(Major International Banks often have Islamic windows which provide various Islamic Financing in UK and US which might not be fully Sharia compliant)

6. Nature of Consumer Islamic Finance
Types of Financings
U.S.
Home Mortgages and Car Financings
Small Business Financings
Mutual Funds
U.K.
Housing Finance Mortgages
Bonds/Notes (Sukuk)
Mutual Funds

7. Commercial Financings
2 Types of Transactions
U.S. and U.K.*
Commercial RE and Project Finance
Bonds (Sukuks)
Investment Funds For Foreign Investors
Acquisition and Working Capital Financing * Law firms Financing “Borrowers”