Sharia’s Growing Influence on U.S. Finance

Wall Street Banks, Regulators Enable Shariah Rules In US Finance

This piece examines how shariah-compliant finance has threaded into U.S. markets, the players enabling it, and the national security and legal questions that follow. It looks at the mechanics of these products, the role of clerical screening, the involvement of major banks and federal agencies, and specific examples that highlight risk. The goal is to lay out the stakes plainly and push for a public debate about whether federal institutions shou…

Sharia’s Growing Influence on U.S. Finance

One of the areas where Sharia law appears to be making inroads into American society is through the U.S. financial system. Under Sharia, or Islamic, law, charging interest (“riba”) on loan

Sharia Is in America’s Financial System and It’s Expanding Rapidly

When the bond market opens each morning in lower Manhattan, no one ringing the bell is thinking about the seventh-century Arabian peninsula. Yet a small army of clerics, lobbyists, and shariah advisory boards has spent the better part of two decades quietly bending portions of America’s financial machinery to conform to Islamic religious law — and they are succeeding with the active cooperation of the largest names on Wall Street and the federal…