More than two years ago, University Bank in Ann Arbor, Michigan started offering banking products that are Muslim friendly.
Now, the bank has formed University Islamic Financial Corp., a subsidiary that focuses solely on serving Muslims' financial needs. The bank will operate in a 100% Shariah compliant way.
Moreover, the bank plans to offer mortgage alternative loan transactions (MALTs) nationwide.
The bank also offers deposit accounts.
Read the story in full: Michigan Bank Forms Islamic Subsidiary.