Source: The Law Reviews
In the 5th edition of The Islamic Finance and Markets Law Review, Mona Dajani examines Islamic finance in the U.S. and the effect the COVID-19 pandemic has had on the market.
“The opportunity cost for the U.S. dollar, especially in light of COVID-19 and Brexit, is quite large in not participating in this global market and opportunity at this moment in time. It is recommended that the U.S. takes steps to introduce the rules and regulations required to engage in worldwide Islamic finance, sukuk and takaful business. Interest-free financing modes may enhance the system currently in use in the US and offer a chance for Americans to diversify their portfolios, attract global investors, enhance liquidity and compete in the global village.”
Read the full chapter of the Law Review here.