The American Islamic Economic and Finance Institute is a group of Islamic economics and finance agencies with a mandate that constitute the business opportunity, quality of living, education, Islamic trade, small enterprise development, risk mitigation, the promotion of private-sector enterprise and revitalizing community economic well-being and prosperity. The building block of United States economy is innovation and entrepreneurship. The economic development policy agenda of President Barak Obama is focused on supporting small business enterprises and facilitate young entrepreneurs seeking to establish their own businesses. In the emerging economies, entrepreneurship and training young business people can be powerful tool for economic growth and poverty eradication. The sustainable economic growth through micro, small and medium sized enterprises is evident in the countries of Southeast Asia, Middle East and North Africa.
In the Global entrepreneurship Summit in Cairo in 2009, President Barak Obama has proclaimed that the United States has dilate programs and formed international coalition with governments, business communities, civil society, investors and academics to educate and support entrepreneurship globally. This year Global Entrepreneurship Summit has attracted to its platform some 3,000 entrepreneurs, investors, academics, startup organizers, business communities and government officials from over 100 countries.
Strong entrepreneurial base and expansion of micro, small and medium sized business is possible with regulated financial system and access to finance even to the unbanked and remote population areas with the most business development needs. The United States is conscious about the importance of strong financial system with versatile products capable of catering to the diversified business needs and also capable of addressing social solutions to the society that has been unaddressed due to financial constraints. Islamic Finance products is amidst the priority financial needs that can provide capital to young and mature entrepreneurs and with its religious doctrine attract wide population of Muslim investors who otherwise are left unbanked due to religious beliefs. The United States understanding the growing financial needs of Muslim and non-Muslim American population, is exploring opportunities to involve agencies such as Islamic Financial Service board to promote growth of Islamic Finance sector in much transparent, regulated and professional manner. Islamic Economics and Finance model is flourishing in United States and its boundaries are expanding far and wide from Gulf Cooperation Council countries from the Far East, to the West.
AIEFI has conceit itself on expanding the acceptance and application of Islamic Finance to Americans and Muslim American. AIEFI is exploring opportunities with the current market situations and future trend in Global Islamic Finance Markets for both Americans and Muslim Americans to get benefit on economic and social front. In the prevailing global economic conditions, financing structure customized to the entrepreneurial needs is still a challenge. AIEFI is focused on its mission of expanding entrepreneurship, curbing socio-economic deficiencies and maintaining high level of quality living for Americans and Muslim-Americans, addressing it with the tool of Islamic Finance. AIEFI represents leading Islamic Finance companies, professionals, scholars and others who are interested in the growth of Islamic Finance. AIEFI with its high profiled network brings the most current Islamic Finance issues on the board attracting the participation of a diverse audience. AIEFI takes advantage of the enlightening gathering by establishing new business opportunities, relationships and reinforce professional association operating in prominent global markets from Islamic and conventional spectrums.