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Islamic Finance Briefing - Categorized | Banking, Finance, Market Moves more

Shariah U.S. loans left to guidance, Lariba

Posted on 14 October 2010

From Bloomberg: American Finance House Lariba and Guidance Residential LLC have become the biggest providers of Islamic financial services to the 7 million Muslims in the U.S., a market Citigroup Inc. and HSBC Holdings Plc aren’t developing.
Home loans that comply with the religion’s ban on interest rose to about $2.5 billion last year, from $2 billion in 2006, Yahia Abdul-Rahman, founder of Lariba in Pasadena, California, said in an interview this month. Reston, Virginia-based Guidance had $2 billion outstanding in October, according to an e-mail from the company on Oct. 6……………………………………….Full Article: Source

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