I- ABOUT OUR CREDİT UNİON
Credit unions are authorized financial institutions that are authorized to accept deposits, receive cash checks, issue loans, issue credit cards, and provide many other financial services to their members. They can provide all the basic financial services that can be provided by banks, savings banks and savings and credit unions. In all states, both federal and state governments oversee these agencies.
Credit Unions around the World
Worldwide, 60,500 savings-focused credit unions in 109 countries provide access to financial services to more than 223 million members. Credit unions reach more than 93 million members, mobilizing more than
$1.5 trillion in savings and shares to lend to each other to support local community development.
In the United States, it has more than 120 million members in 6,100 Credit Unions.
Credit unions serve specific membership areas, such as employees of a particular business. Credit unions cannot provide services to those who don’t fall in their membership areas.
Reflecting this emphasis, credit unions open their accounts for “members” rather than “customers.” Because they are a cooperative sector, non-profit work for the benefit of their members, credit unions are tax-exempt. Partly because of this exemption, credit unions often offer lower rates than for-profit financial institutions.
Unlike large banks that charge increasingly higher fees, our Credit Union not only offers products tailored to the specific needs of our members; but also offers more favorable dividend rates on deposits and lower fees for services.
Credit unions offer many of the same types of financial products and services as banks.
However, a credit union may use slightly different names for its accounts and features, such as “share draft account” rather than “checking account”.
Because a credit union’s customers are member proprietors, the credit union pays “dividends” rather than “interest.”
If you choose to hold your money with a federally insured credit union, you’ll also enjoy the credit union equivalent of FDIC insurance: The National Credit Union Administration (NCUA) provides federal insurance for eligible deposits of up to $250,000 per insured depositor, in the event of the failure of the credit union, protects the account holder.
Like other financial institutions, Credit Union accepts deposits and lends money – but we are NOT in this business to make a profit. Most banks and savings and loans are owned by groups of shareholders whose interests include a healthy return on their investment. The bottom line is that banks are for-profit institutions, while credit unions are nonprofit.
Many shareholders do not even benefit from the services of that institution. As a member of the Credit Union, you along with other members, own and operate the Credit Union.
A Credit Union checking account is available for free, visa debit card is the same.
Meanwhile, banks are raising their fees to recover losses associated with the economic crisis, legal cuts in clearing fees and low-interest rates.
Credit unions are focused on providing reasonable rates to their members.
Because they don’t have to pay profits to shareholders as banks do, credit unions can pass that money on to their members by offering higher APYs for savings accounts and CDs and lower APRs for loans. Credit unions offer some of the best checking accounts, high-yield savings accounts and CD rates.
If you’re a small business owner or just want to support small businesses in your community, becoming a credit union member can help.
As nonprofits, credit unions also focus on providing loans to people in need. Many credit unions offer emergency loans of up to $5,000 or short-term cash advance/payday alternative loans of up to $2,000. Rather than going to a payday lender, many people can get a better deal at a credit union.
Community participation
Credit unions have a specific mission to serve low-income communities. No matter what type of neighborhood, city, or town people live in, credit unions aim to connect their local communities with affordable financial services. Credit unions offer lower fees and higher returns on deposits, as well as $5.6 billion in savings on auto loans, helping their members save $12.6 billion a year.
Anyone can join a credit union, as long as they are within the credit union’s field of membership. This is the common bond between members. The common bond could be yours. To be a member of the Credit Union, common bond eligibility requirements must be met. Credit unions are often community-based, meaning you just need to live in the right ZIP code to be eligible. To open an account, you will need to provide a valid ID, your Social Security card and proof of your address.
Opening a share account is necessary to establish your membership in the credit union, which enables you to use other products like loans, checking accounts, and more. A share draft account is a liquid account at a credit union that allows you to make frequent withdrawals and payments. Membership in the Credit Union is obtained by opening a Share account with a minimum deposit of $ 100. Deposits are actually shares that have a par value of $ 20 each. Therefore, at least 5 shares must be purchased initially to obtain membership. Only one share is required for initial membership for children under 13 years.
Member accounts are insured by the National Credit Union Share Insurance Fund (NCUSIF), a component of NCUA, which was established by Congress on October 19, 1970. The deposits of each member are insured up to $250,000. The standard insurance amount is $250,000 per depositor, per insured Credit Union, for each account ownership category. And you don’t have to purchase deposit insurance.
There is no minimum amount is required to open a Credit Union checking account.
The Credit Union prides itself in having low service fees. These fees are subject to change daily. Our current rates may be found under Rates and Fees.
Members can enjoy the convenience, security, and prompt delivery of Direct Deposit and avoid the hassle of mailing checks monthly by establishing electronic debits and credits.
Lock in our best yields and get the return you want with a Share Certificate, which offers you great rates and flexible savings terms. Share Certificates earn a higher percentage rate over a traditional savings account and offer automatic renewal options.
Everyone can apply online in Member Access.
As part of our commitment to provide convenient, low cost financial services, the credit union offers a competitive credit card program. Like credit cards issued by banks, credit unions also issue credit cards through associations with major networks. As a result, you may use your credit union credit card nationally and internationally through any merchant that supports its network.
To accommodate members who occasionally have an urgent need to send money fast, the Credit Union offers wire transfer services.
Credit unions are co-operatives that are set up by and for members to benefit their community. The Credit Union wants to provide members with a single source of financial services. In addition to deposit accounts, loan products, investments and budgeting, the Credit Union offers a variety of insurance products to protect members’ assets.
Credit union members can access their accounts through Member Access, anywhere Internet access is available. Online, members can conduct most of the same transactions and maintenance that is conducted at a branch.
Transfer funds between your credit union account, make real-time loan offers, make credit card cash advances, process recurring wire transfers, and request new or modified existing funds transfers.
Pay bills online, transfer money to another credit union member, set up recurring one-time payments, manage payees and view your payment history with our Bill Pay service.
II- ABOUT AMUSCUT
Gulf US Capital & Global Finance Platform & US Share Fund group, which has been providing financial services for 20 years and is an expert in Islamic Finance, conducted preliminary research for 6 years to establish a special-purpose Credit Union that will provide financial support to American Muslims and held meetings with relevant institutions and experts.
This Web Platform is for pre-research and pre-evaluation and member sponsor identification and survey organization on donation commitments for the establishment of the American Muslim Credit Union &Trust (AMUSCUT).
It is aimed to gather 100,000 members and 10 million dollars in aid-fund-donation for the strong establishment of AMUSCUT.
After reaching the targets, a legal applications will be made with member registrations. After approval, the committed donation deposit membership dues will be processed on behalf of the members to be deposited in legal accounts.
Evaluation will be made according to the commitments of the sponsor and other donors and the results of the survey and evaluation.
An Interim Board of Directors will be formed consisting of opinion leaders and leaders of Muslim society and non-governmental organizations in America, Islamic-Cultural-Local Associations-Foundations-Councils- Chambers of Commerce and Muslim businessmen, experts and consultants in the field of banking and Islamic finance practices.
And the necessary legal establishment procedure will be done. A new Board of Directors will be determined with the participation of all members.
Credit Union Setup is as follows. Phase 1 – Proof of Concept
Preliminary formations for the establishment of a federal structure, Objectives of the loan, Moving of Membership, Demonstrating capital financing plans, Identifying subscribers, Clarifying the name of the credit union, Expenses of low income and resolved depository institution appointments and Community Development Finance Corporation certificates, Completion of the conceptual presentation.
Phase 2 – Charter Application
Before the application, a survey is conducted for capable members. The results of these surveys will then be analyzed.
The reserved distribution capital will be determined.
Information on key sponsorship commitments will be sought.
Secure patronage relationships will be established.
Business plans will be developed. NCUA formula 4001 is to be sent
A mission statement will be created. Products and services will be determined.
Create organizational and management plans. The rating of the credit union will be determined.
He will create and independently plan pro forma financial statements. Marketing plans will be defined.
It will create possible structures.
All necessary policies will be developed, including for key departments or advanced services.
Phase 3 – Final NCUA Confirmation
Actions to be taken after this stage:
All remaining NCUA
(NCUA 4008, NCUA 9500, NCUA 9501) forms are completed. Earlier versions of NCUA 4012 forms will be approved.
A Letter of Understanding and Agreement will be signed by the NCUA.
A Charter will be taken and insurance coverage will be determined.
(CURE review Objective: 180 days from receipt of a complete application in Phase 2 to a rental arrangement)
Presentation of Proofs of Concept and Other Forms;
Organizers will initiate the process of initiating an account on Cyber grants (opens new window), the automated system they will consume to determine Proof of Concept documents in Phase 1 of the lease term, covering four critical studies of potential loan expenditures.
Purpose and core values, capital area, capital financing facility.
After submitting the Proof of Concept, an NCUA coordinator will be assigned to work with us throughout the hiring process. The documents for the 2nd and 3rd organizations of the process will be delivered to the coordinator.
This web platform is for the American Muslim Credit Union & Trust for preliminary research and preliminary assessment and survey organization. According to the commitments of the sponsor and other donors, and according to the results of the survey and evaluation, a legal establishment will be realized with the Temporary Board of Directors.
As stated in the survey, an application will be made with a petition signed by at least 100 founding members. A minimum donation record of $10 million will be required to prove the organization’s financial adequacy. With this web platform, only the information and commitment amounts of those who want to support and donate are determined. After the decision to establish AMUSCUT legally, donations will be made to the legal bank accounts to be opened with the decision of the Board of Directors.
Legal requests will be made upon fulfillment of pledges of targeted members and donors.
For the establishment of the non-profit American Muslim Credit Union & Trust:
-Companies, organizations, or individuals who will donate at least $10,000
- Institutions and organizations with at least 500 member networks and potential will be considered as
Sponsorship criteria for those who will take part in the temporary board of AMUSCUT;
-Companies, organizations or individuals who will donate at least $100,000
- Institutions and organizations with a network and a potential of at least 1000
In this context, legal arrangements will be made with the Temporary Board of Directors, which will consist of sponsors and expert consultants.
For the establishment of AMUSCUT, 100,000 members and 10 million dollars in donation financing were targeted. The first legal establishment will be made in New Jersey with the latest financing technologies developed, it will be able to serve all over America with online applications and branch openings.
AMUSCUT will serve all its members with the following financial products.
- General – Conventional Credit Union Banking Financial Products; Such as Home, Workplace, Commercial Units, Vehicle, Franchising purchasing, Refinance learning, Loans, SME Loans, Leasing and Investment
- Special (in accordance with Islamic ethical criteria) financial instruments; Such as Mudarabah, Murabaha, Ijarah, Musharakah, Halal Invest, Tekaful Insurance and Sukuk bonds etc. applications will be made with private funds and
US Mortgage parent Fannie and Freddie accepts Mortgages that meet Islamic criteria for home business purchases.
For Muslims in the USA, where conventional and traditional banking and finance sectors are highly developed, financial structuring and transformation can be made in accordance with Islamic-Halal rules.
All Banking services offered in all Credit Union institutions will be provided.
- Retail Banking
It will offer customers more than they expect from a bank, including online banking and mobile deposits.
- Check and Credit Cards
Will issue debit, credit or prepaid cards
- Saving and Investment
It encourages its members to save regularly to create financial security for themselves and their families. Offers alternative products.
- Consumer Loans
It provides various types of consumer loans such as advance loans, unsecured personal loans, and lines of credit so that they can get the best possible financing.
- Mortgages and Homeownership
It provides financing for them to buy or rent a home, whether it’s an apartment, condo, townhouse or single-family residence.
- Direct Deposits and Withdrawals
It offers a variety of banking services, including direct deposit, when they open a new credit union account.
- Money Transfers
It helps Muslim members in the United States send money to friends, family and workplaces at home and abroad with very low service fees.Online and Mobile Banking
It will have a Fintech-supported technological infrastructure where members can manage practically all their personal financial situations, planning, and transactions online.
- Mobile Payments & Mobile Wallet
Members will have the necessary infrastructure to make mobile payments and use mobile wallets.
- Customers will be able to securely perform their foreign exchange and precious metal purchases and sales at AMUSCUT, ATMs and XTMs or the Internet Branch, at the most favorable rates. They will be able to keep their foreign currency and precious metals as collateral in their forward and check foreign currency
- Shared Gold Accounts; It is an indefinite account to be opened in order to use the accumulated savings as gold. You can buy Shared Gold Checks in USD or gold in your account. Gold Checks are especially convenient when gifting
With the Investment Account they can open in AMUSCUT, customers will be able to easily perform mutual fund trading transactions on the Internet Branch. Different capital market instruments are used in the valuation of mutual funds. Thus, the market risk is spread and safe investment is ensured. A mutual fund is an investment vehicle that is easy to convert into cash.
- Share Card covers customers’ 24/7 transactions both at AMUSCUT ATMs and from ATMs of other banks in the USA and abroad with Visa Electron, V PAY, Maestro and Cirrus
- AMUSCUT Business Partner that caters to all banking needs of its customer with its wide product range.
- Insurance services, Asset Insurance, Car Insurance, Housing Insurance, Dask – Compulsory Earthquake Insurance, Compulsory Traffic Insurance, Travel Insurance- Health Insurance, Unlimited Optional Financial Liability
- With its Share Account, the customer can send money to or collect money transfers from 200 countries of the world in an average of 10 minutes from AMUSCUT Online
- Invoices, Taxes, SSI, Pensions, and Donations can be made
- Money Order & EFT, Currency Transfer (SWIFT), Check & Bill.
- Safety Deposit, Private Equity, Investment and Project
- Personal Finance; Auto Finance, Education Finance, Travel Finance.
- Home Finance; Owner to Owner, Procurement, Developer Acquisition, Construction
- Small Business Finance; Working Capital Finance, Property Finance, Flexible Business
Islamic finance is a type of faith-based financing activity that must comply with sharia (Islamic Law). Alternative-Ethical-Safe-Profitable-Interest-Free-Islamic-compliant financial instruments are a century-old practice that is accepted all over the world and even its ethical structure has begun to attract the attention of all investors. Today, the Islamic finance sector is growing between 15% and 25% per year.
Faith-based Islamic finance is a way of making financial transactions while respecting Islamic law or Sharia. Today, Islamic finance is a $2.5 trillion industry with hundreds of specialized institutions located in more than 80 countries. Global Islamic Finance assets are estimated to reach US$3.69 trillion by 2024.
Principles of Islamic Finance
Contemporary Islamic finance is based on a set of rules:
- Islam considers lending on interest as an exploitative practice that favors the lender at the expense of the Under Sharia law, interest is usury (riba), which is strictly prohibited.
- Some activities are prohibited in Islam, such as investing in businesses engaged in prohibited activities and producing and selling alcohol or pork.
- Speculation
Sharia strictly forbids any kind of speculation and gambling.
- Uncertainty and risk (garage)
The rules of Islamic finance prohibit participation in contracts involving excessive risk and/or uncertainty.
In addition to the above prohibitions, Islamic finance is based on two more important principles:
-Material certainty of the transaction: Every transaction must relate to a real underlying economic transaction and asset.
-Profit/loss sharing: Parties entering into Islamic finance contracts share the profit/loss and risks associated with the transaction.
Islamic Finance products are basically divided into three broad categories:
Equity-based products; Mudarabah – Musharakah-Trade – Salami – Istisna Murabaha
Rental-based products; Ijarah – Descending Ijarah
Murabaha; It means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on a cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. Murabaha is used for Business Transactions, Working Capital Financing and Fixed Asset Financing.
Guaranteed Murabaha (Islamic Repo); Same Islamic Banks offers its clients Multi-Currency Murabaha financing on a deferred payment basis, backed by liquid and easily marketable Sharia-compliant securities such as Sukuk.
Islamic Trade and working capital Financing are based on the concept of murabaha. Murabaha is when the seller clearly states the price of the goods he sells and sells it to someone else by adding some profit to it. Therefore, murabaha is not a loan given with interest; is the sale of a commodity at a cash/forward price. Musharakah is an employment contract established by partners who agree to share commercial profits and losses. Profits are distributed at a rate mutually agreed upon in the contract.
Musharakah is used for Working Capital or Business Finance, Term Financing for Joint ventures and Equity Engagement
Ijarah is to sell the use or benefit of a service for a fixed price or fee. The corpus of the leased property remains in the property of the lessor and only his usufruct right passes to the lessee.
Icare or leasing is used to finance automobiles, buildings, machinery and equipment.
IJARA / IJARAH – Rental to Own
The term Ijarah literally means rent, the sharia process is known as Ijara-wa-iqtina, to rent with a purchase or to rent to own. The Ijarah transaction can be used for the property as well as equipment. This Islamic finance process is very simple. A single entity trust is created, where the trust purchases the property and then leases the property to the client. A portion of each monthly payment goes into ownership until the customer owns 100%.
The main difference between a Sharia ijara-wal-iqtina Islamic loan process and a traditional lease is that the ijarah process obliges the escrow (the seller) to sell the property to you under the pledge to buy. While the same contract gives the customer the right to purchase the property, the customer is not obligated to do so.
Salam is an Islamic form of financing in which the seller undertakes to supply certain goods at a future date for a price fully paid in advance at the time of the contract.
Salami is used for Agriculture or Commodity financing.
Contract of Exemption: The buyer places an order for the manufacture, assembly or construction of something by agreement.
Salam is used for Agriculture or Commodity financing.
Istısna Contract: Buyer places an order to manufacture, assemble or construct something at an agreed price, and to be delivered at a future date. It can be paid in a lump sum or in installments, as mutually agreed. Istisna is used to Finance: Manufacturing Goods, Construction of buildings, exports, and pay overhead expenses like; salaries and utility bills.
Tawarruq (Monetızatıon); is an arrangement whereby a person, in need of liquidity, purchases a commodity from a seller on credit at a higher price (to buy on credit and sell at spot value)
Lenders and Banks become the investor (buy-sell-lessor) of your assets. A tawarruq consists of two sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis
Takaful Insurance literally means “guaranteeing each other”
Shariah-compliant alternative to conventional insurance can be thought of as a mutual insurer within a shareholder wrapper i.e. the shareholders operate the company on behalf of the policyholder and any insurance surplus is distributed back to the policyholders Halal Investment Screening
Halal investment screens help assess whether a company’s business activities are halal or haram. Halal investing screens seek to eliminate;
-bonds and other interest-based investments
-stocks of companies that have high debt (sometimes referred to as highly leveraged)
-securities of companies in industries that do not adhere to Islamic principles, such as liquor, gambling, pornography, pork, insurance, banks, etc.
-greater than five percent of their revenue coming from haram sources (the “five percent rule”)
-greater than 33 percent total debt as compared to their market capitalization (trailing 12-month average)
-greater than 45 percent accounts receivable as compared to their total assets (trailing 12-month average) If a company fails, the screening process is considered an unacceptable investment.
Forex Trading-Islamic Account
Traders of Islamic faith can apply for a Raw Pricing trading account where no interest fees will be credited or debited. Forex trading is halal (lawful) and not haram (forbidden) when traders use swap-free trading accounts because riba or interest element doesn’t exist in that case. Most CFD brokers offer Islamic swap-free trading accounts that do not charge or pay overnight interest (no repayment with interest) on the open positions. Generally, trading is not haram.
Overnight Financing Charges; Swap free accounts do not pay or earn swap or interest on any trades for Currencies, Metals & Indices excluding exotic Currency Pairs, Brent, Natural Gas, and WTI’s, where a small financing charge is applicable overnight.
You can be doing available of Islamic trade and investment criteria Gold and Silver Trading, Oil Trading,
Stocks and Indices Trading, Forex, and Crypto Currencies
Trade indices and stocks are linked directly to global stock markets without any exchange. The Dow Jones Islamic Market Index (DJIM), launched was the first index created for investors seeking investments in compliance with Muslim Sharia law. This index measures the performance of stocks traded globally that pass rules-based screens for adherence to Sharia investment guidelines.
SUKUK Bonds
Musharakah Sukuk:Issued with the aim of using the mobilized funds for establishing a new project, developing an existing project or financing a business activity on the basis of any partnership contracts. Musharakah Sukuk is based on Musharakah contracts, they are instruments issued for the use of their funds in establishing a project, developing an existing project, or financing an activity based on a Musharakah contract. The project or the assets of the activity becomes the property of the Sukuk holders.
Participation Certificates – represent projects or activities managed on the basis of Musharakah.
Mudaraba Sukuk – represents projects or activities managed on the basis of Mudaraba.
Investment Agency Sukuk – represents projects or activities managed on the basis of an investment agency by appointing an agent to manage the operation.
Murabaha Sukuk:
Issued for the purpose of financing the purchase of goods through Murabaha so that Sukuk holders become the owners of Murabaha Commodity
The vast majority (>95%) of American Muslims are deprived of investment and credit opportunities according to Islamic-Halal rules. America is the financial center of the world. It has many different – alternative investment and financial products and institutions.
In countries where traditional and traditional banking and finance sectors are highly developed, people usually use financing from conventional banks, and Islamic banking is not very common, alternative financial structures and changes can be made.
A configuration essentially changes the nature of the transaction from a lease for money (Riba) to a sale or lease in the property (Murabah or Ijarah leaseback).
The configuration is possible for conventional mortgage holders who are already satisfied with the current mortgage rates and terms but want to make it Sharia-compliant. In this model, they can structure not only their previous mortgages and other loans; but also their new mortgage and investment financing. They can choose mortgages or commercial lenders, banks or funds with the most suitable terms for them.
In the Beneficial Financing Model, the Ijara-wa-iqtina (lease and ownership) process allows Muslims to create a self-employed rental agreement where the occupant is the tenant and thus abides by Shariah principles.
The configuration process is asset-based rather than credit-based Islamic financing methods that have been used in the US and Canada for over 20 years.
Like a traditional car lease, a lease loan establishes a lessee relationship rather than a lender-borrower relationship.
“Karz” means to lend money without expecting any interest or similar benefits. This is a form of financial aid that Allah praises. This sacrifice is so exalted in the Qur’an that the lender is treated as if he gave to God, not to the people:
“Are there not men and women who do well by giving alms, and those who lend to God willingly? Allah will reward them many times over. For them is an honorable reward” (Hadid, 57/18)
”-Help one another in goodness and piety; do not cooperate in sin and enmity” (Maida, 2)
“-If you do not support and support each other, a great strife, turmoil and great corruption will break out on earth, of which you will not be able to predict what it will bring. (Anfal, 73)
“-Believer men and believing women are friends and helpers of each other. They command and recommend goodness, and try to prevent evil.” (Tawba, 71)
“-Do well and do what you do well. Indeed, Allah loves those who do well and do their job well.” (Bakara, 195)
(Compete with each other to do good deeds and good deeds) Baccarat, 148
Hundreds of verses of the Qur’an and the hadiths of our Prophet (PBUH) advise us to cooperate among people. Based on these orders and recommendations;
Our core mission is to provide financial support services to our members with transparency and honesty within the framework of US legal rules, focusing on universal and Islamic values, away from political and illegal practices.
Our approaches are shaped around human-centered ethical finance, which is our basic philosophy, and we design for one’s life and society. With this mission, AMUSCUT will offer financing products that comply with special Islamic criteria (for those who wish) as well as the conventional banking products of Union Loans.
We measure success by how well we maximize the economic benefit of our members.
AMUSCUT has members, not shareholders. Earnings are returned to members through services such as free ATMs, better rates and lower fees.
AMUSCUT aims to be a financial institution that is democratically controlled by its members and works to maximize the economic benefit of its members by providing financial services at competitive and fair rates.
AMUSCUT will be a non-profit, member-owned credit union serving all Muslims and their families in America. Our members are owners, not just customers, and each has one vote. Earnings, excess funds are returned to our members as dividends, discounted financing offers, improvements to our products and services. That means they have great prices, lower fares, and special discounts.
Strong, Safe and Secure
AMUSCUT will be built on a solid foundation. It will adhere to a strong code of conduct that focuses on honesty and transparency in the products and services we offer to our members.
The National Credit Union Administration (NCUA), a US Government Agency, insures members’ savings up to $250,000 and IRA funds up to $250,000.
It will always adhere to sound financial commitment practices.
It will be regularly audited by PricewaterhouseCoopers LLP, an independent audit firm.
There are 55 million expatriate-foreign people and more than 8 million local and foreign Muslims living in the USA.
Arab American, Bangladeshi American, Pakistani American, Indian American, Turkish American, Palestinian American, Albanian American, Bosnian American, Azerbaijani American, Kazakh American, Muslim American, etc. There are 52 immigrant-ethnic-Muslim groups.
Muslim Countries Business Councils and Institutions in the US:
US-UAE Business Council, US-Bahrain Business Council, US-Saudi Business Council, US-Qatar Business Council, US-Kuwait Business Council, US-Turkish Business Council, US-Oman Business Council, Pakistan Business Council, India Business Council, Egypt Business Council, Balkan Business Council, Eurasian Business Council, Indonesia Business Council, Malaysia Business Council
Arabic American Center, Pakistan American Institute, Asia-American Inhabitants, American
Muslim Business Development and Development Council, Balkan American Community Center, Balkan American Associations Federation, Azerbaijan American Culture Alliance, International Trade and Partnership Institute, Shanyraq Kazakh Foundation, Gulf Foundation, Gulf Language Institute, Eurasian- American Chamber of Commerce, Asia Women’s Association, Council of Americans and Eurasians, Lariba Finance House (California, 1987), Devon Bank (Illinois, 2003), Guidance Bank (Virginia, 2002), UniversityIslamic Finance (Michigan, 2003) and Ijara Loans (Texas, 2005) Amana Investment funds
Trust, Saturna Capital, MSI Financial Services Corporation, Manzil USA,Azzad Asset Management Inc, Qawi capitol,Sharia Portfolio Inc, Miss Claremont,The Council on American-Islamic Relations (CAIR), Relief USA, Helping Hand for Relief and Development. There are institutions such as. https://en.wikipedia.org/wiki/Category:Islamic_organizations_based_in_the_United_States
“American Muslims are the only majority non-racial faith community surveyed, with 25% black, 24% white, 18% Asian, 18% Arab, 7% mixed race, and 5% Hispanic.” Also, 50% of Muslims are indigenous, 50% are Hispanic. 6% of them are foreigners and 86% of them are citizens.
It interests them in potential investment alternatives that will meet their faith-based financial needs. AMUSCUT will serve in cooperation with these potentials.
AMERICAN MUSLIM CREDIT UNION &TRUST (AMUSCUT)
sharefund@Gulfuscapital.com , usinvestingfund@gmail.com
