Amana Funds

Mission

The Institute of Halal Investing works to demystify Islamic finance among both Muslims and non-Muslims by providing research on Shari'ah-compliant financial products.

It is recognized as a 501(c)(3) tax-exempt organization in the U.S.

Vision

There are 1.2 billion Muslims in the world, and 6 million in the United States [1], yet little is known about a relatively new and rapidly growing area of finance administered in compliance with Shari'ah law. Shari'ah (Islamic) law lays down a code of ethics and conduct under which Muslims are instructed to live their lives. However, it is very difficult for Muslims to comply with the financial restrictions enunciated in the Qur'an and Sunna because the Islamic financial industry is still undeveloped or absent in many areas of the world.

Read more: Vision

Books

Maulana Justice Taqi Usmani

Islamic Finance by Maulana Justice Taqi Usmani is available now for download in .zip format. Book covers the following aspects of financial operations:

  • Musharakah;
  • Mudarabah;
  • Combination of Musharakah and Mudarabah;
  • Some objection on Musharakah Financing;
  • Diminishing Musharakah;
  • Murabahah;
  • Some Issues involved in Murabahah;
  • Ijarah;
  • Salam and Istina;
  • Principles of Shari'ah, Governing Islamic Investment Funds;
  • The principle of Limited Liability.

(download the book: "Islamic_finance.zip", 158Kb)

Prof. Dr. Zubair Hasan - INCEIF

Theory of Profit, Vikas Publishing House, New Delhi 1975.

Introduction to MICROECONOMICS: An Islamic Perspective
Pearson Prentice Hall, Malaysia 2006 (Reprinted 2007).

Macroeconomics, Oxford University Press, October 2009.

History of Halal Finance

A Brief History of Islamic Finance, Banking, Investing, & Economics

Islamic finance is intended to be an alternative financial system based on the rules laid down in Islamic law, the Shari'ah, which is articulated in the Qur'an and Sunna.

The industry has its roots in the post-colonial period in the 1950s, when scholars in many previously colonized and newly independent states worked to develop a new economic system, a third way between capitalism and socialism based on the assumption that Muslims will have a larger social interest in their economic interactions than non-Muslims; they will be homo Islamicus rather than homo economicus, as conventional economics assumes.

Read more: History of Halal Finance