| This research is a multi-dimensional study of Islamic finance in the US. It explores demand and stability of Islamic investments in the market. It highlights regulatory issues within the US legal framework that affect growth of Islamic finance. Tracing from its historical roots to present manifestations in the US market, there seems to be increase in demand for Islamic options based on interviews of users and non-users of available instruments. This study finds that religion plays an influential role in financial decision making. The interplay of theology and market is creating new concepts in political economy that has behavioral implications. Islamic finance is a prominent case of religion transforming market activity through evolving organizational structures which operates on Islamic principles and espouses partnership models in business activity. Still a small percentage of the overall global economy, this fast-paced industry has caught the attention of global financial, legal and educational institutions and offers new insights on religion impacting economic activity. |
