Current status of Islamic banking system in the United States.

Running Head: Islamic Banking Outline

Islamic Banking Outline

Islamic Banking Outline

Pasha Daniels

January 18, 2018

Altierus Career College

Topic Suggested: Current status of Islamic banking system in the United States.

  1. Introduction

Under the introduction I will give an overall review of the paper, by introducing the topic of the paper.

  1. Islamic banking concept-

I will give a general overview of the Islamic banking concept. I will discuss the general theory of Islamic banking system and the basic principles guiding the system such as the Islamic laws relating to loans, or mortgages……examine the Islamic banking contracts, Islamic banking products etc.

  1. The growth of Islamic banking in the United States

Under this we consider the major factors that may have contributed to the Islamic banking gaining foothold in the United States. Such factors may include but not limited to population growth of Muslim community in the U.S.,

  1. Regulatory challenges facing Islamic banking in the United States

Under this sub topic we examine the federal and state banking regulatory policies and how they contradict or restrict the Islamic banking principles of operation. For instance, how banks should deal with securities, real estate’s etc. in addition, examine the efforts by the Islamic banking institution to comply with the regulations put in place.

  1. Role of Islamic banking in economic growth and development in united states

I will examine how the banking system has contributed or deterred economic growth and development in the United States.

  1. Conclusion

I will give a general observation as far as the Islamic banking system in the United State is concerned. I will give my personal opinion about the future of Islamic banking in the United States. I will also provide recommendation on how to improve the banking system to counter regulatory challenges and developments to enhance economic growth of the country

References

Al Omar, F., and M. Abdel Haq. 1996. Islamic banking: Theory, practice and challenges. London: Zed Books.

Bill, Maurer (2006). Islamic Mortgages in the United States. Sage publishers.

Riyadh Mohammed (2016). Rise of Islamic banks on Main St. USA. CNBC.com

Yahia Abdul-Rahman (2016). The Art of Islamic banking and finance. Wiley.

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