The number of Muslims is on the rise in the US. This is due to several factors including high rate of immigration from Muslim countries and high birth rate among Muslim families. American Muslims are sometimes unaware of the Islamic rules of financial transactions which may result in them getting involved financial products or institutions that are not shariah compatible. Even those Muslims that look for shariah compatibility before getting involved in any financial contracts, they would often fail to find them. Although, the Islamic finance industry is growing steadily around the globe, it is still a tiny, and often localized, niche within the US financial system. It is true that the landscape of Islamic finance is also expanding in the US, but it is still inadequate compared to the growing size of the Muslim communities. Therefore, we began to realize the need for an initiative to educate American Muslims the basics of Islamic financial principles, products and institutions.  

Then came the COVID–19 that affected the entire world. During the pandemic, many people, individuals and families lost their jobs. Many other died, who were wage-earners or breadwinners for the family. Families with low income were hit hard. Affected families were unable to navigate this hard time with appropriate financial decisions, for many reasons including lack of knowledge and preparation. This also applies to Muslim families who found it very challenging to reach out to conventional sources of financing during the times of difficulty.

It is in this backdrop, we decided to create an organization which would help the underserved low-income families or middle-income families to understand financial literacy in the first place, and then to apply their knowledge and understanding in planning for their unpredictable financial events in their lives. This is the shortest story about the birth of this website.