Ahmad H. Mango of Hinshaw & Culbertson. Courtesy photo Islamic Finance and Real Estate in Florida
With such a widespread Muslim population living and growing in Florida, this article will provide a summary of sharia law and its relation to Islamic finance, the key principles of Islamic finance, and discuss two of the most popular Islamic finance transaction structures for the purchase of real estate in Florida.
April 12, 2024 at 10:20 AM
7 minute read
Board of Contributors
Research reflects that American Muslim-owned businesses are primarily concentrated in Florida. Florida has long been known to be a hub for Muslim-Americans. According to a study conducted by Wesal Aldarabseh (2019), Florida ranked as one of states with the most frequent online searches of the phrase "Islamic finance" or "Islamic banking" in recent years. It is estimated that the Muslim population in the United States is around 4.45 million, and according to the Pew Research Center, about 700,000 Muslims reside in Florida.
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