The American Muslim Population
The current population of Muslims in America is approximately eight million and is estimated to reach 16 Million by 2024. Of the current population, seven million Muslims enjoy the annual growth of 6% compared to the 0.9% for the United States as a whole.
Muslim Americans are more affluent than their non-Muslim peers with a physician living in every one out of ten Muslim American households. There are over 1,209 Mosques around United States with over a quarter of Muslim Americans associated with a Mosque. Given this scenario, the demand, growth, and opportunities of the Islamic finance and Halal industries are considerable and inevitable. It is projected that by 2020, Muslim population will be choosing Islamic institutions to fulfill 50 percent of their banking needs.
Growth of Islamic Finance
Islamic finance and economy is estimated to grow 15-20% from its current value of $1.35 trillion in assets covering commercial banking, funds, Sukuks, Takaful and other segments. With over $3 trillion encompassing Halal food, finance, clothing, tourism, media & recreation, pharmaceuticals, and cosmetics, the Islamic economy is estimated to grow twice as much in the next five years. Moreover, the socially responsible and morally conscious non-Muslim community in USA has been increasingly appreciating the value of Islamic finance making it their first financial choice.
AIEFI’s Role in the Growth of Islamic Finance
In the given scenario, the role of AIEFI becomes even more important being the only non-profit organization in USA which brings all aspects of Islamic finance and economy under one umbrella. We predict that the popularity of Islamic finance in America will cause increasing demand for new financial solutions and global business relationships making the challenges more complex if not handled in a timely fashion.
How Your Donation Will Help?
Your monetary support is significant for AIEFI. It will help us to continue our mission and prepare the American Islamic finance industry to meet the growing demand of Halal financial solutions for the current and future Muslim population.
Your donation to AIEFI, big or small, will come around to benefit “you and your family” to gain accelerated access to shariah complaint trading, investing and business opportunities. So whether you are an established financial organization or an entrepreneur, an experienced business professional or a newly graduated business executive, an Islamic scholar or a student, a wealthy family or one with limited means, Muslim or a non Muslim, AIEFI is there to advocate for favorable financial policies, cultivate local and global business relationships while strengthening the existing ones, and provide specific trainings and certifications to help you move up the economic ladder in America and beyond.
Please join us in paving the path for Islamic finance and prosperity of the Muslim community in the United States.