Directory
List of Islamic banks in the USA
Every Shariah-compliant bank, finance company, credit union and fintech operating in the United States, with who regulates it, who insures it, who certifies it, and where it operates. Registry last verified 2026-10-22.
Are there Islamic banks in the USA?
Yes. The U.S. has no separate Islamic banking charter, so Shariah-compliant banking is delivered by FDIC-insured banks with dedicated Islamic programs, licensed Islamic finance companies, credit unions and housing cooperatives, and halal fintechs on partner banks. The directory below lists every institution HalalWallet tracks, with its Shariah oversight and state coverage.
- No U.S. bank holds an Islamic charter; evaluate the product contract, not the label
- Deposit insurance is FDIC or NCUA at the same $250,000 limits as any bank
- Most halal mortgages come from non-bank finance companies, not deposit-taking banks
- 13 institutions tracked, each with a last-verified date
Source: HalalWallet (halalwallet.us)
The four ways Islamic banking is delivered in the U.S.
U.S. banking law has no Islamic bank charter, so every institution below is a conventional legal structure running a Shariah-compliant program inside it. That is why the regulator, the insurer, and the Shariah certifier can all be different organizations, and why each needs to be checked separately.
Chartered banks with a dedicated Islamic program
A state- or federally chartered, FDIC-insured bank that runs a ring-fenced Shariah-compliant division: separate deposit products that pay no interest, financing written as Murabaha or Ijara instead of loans, and a Shariah board or certifying scholar that signs off on the contracts. The bank's charter, capital, and deposit insurance are conventional; the product set inside the program is not.
How to verify: Look the bank up in FDIC BankFind, then ask for the Shariah board's current certificate for the specific account or financing product.
Islamic finance companies (non-bank lenders)
Companies that originate halal home, auto, or business financing without taking deposits. They are licensed as mortgage lenders or finance companies under state law, funded by investors, warehouse lines, or sales to Freddie Mac and Fannie Mae, and supervised by state regulators and the CFPB rather than the FDIC. Most of the U.S. halal mortgage market runs through this model.
How to verify: Check the company's NMLS ID in NMLS Consumer Access and confirm the state license covers your state.
Credit unions and cooperatives
Member-owned institutions, insured by the NCUA when federally or state chartered as credit unions, or organized as housing cooperatives that pool member capital to co-purchase homes. Governance is one member, one vote, which maps naturally onto Islamic partnership principles, but the product has to be checked the same way: no interest in either direction, real asset ownership behind every financing.
How to verify: Search the NCUA's Research a Credit Union tool; for cooperatives, ask for the membership agreement and the scholar who reviewed it.
Halal fintechs on a partner bank
App-first brands that hold your money at an FDIC-insured partner bank, with the fintech screening where deposits are placed and promising no interest. Your insurance protection depends on the partner bank and on how your funds are titled there (pass-through coverage), so the partner bank's name and the account structure matter more than the app's branding.
How to verify: Find the partner bank in the fintech's deposit agreement, confirm it in FDIC BankFind, and read how pass-through insurance is documented.
Directory: every Islamic banking institution in the United States
Deposit-taking institutions
| Institution | Products | Shariah oversight | States | Last verified |
|---|---|---|---|---|
| Bank of Whittier | Bank Accounts, Business Financing, Home Financing, Auto Financing | Third-Party Certified | Nationwide | 2026-08-05 |
| Stearns Bank | Bank Accounts, Business Financing | Formal Board | Nationwide | 2026-10-07 |
| UIF | Bank Accounts, Business Financing, Home Financing, Auto Financing | Formal Board | Nationwide | 2026-10-22 |
| Jafari Credit Union | Bank Accounts, Business Financing, Home Financing, Auto Financing | No Public Review | 1 | 2026-08-05 |
Islamic finance companies and cooperatives (financing only)
| Institution | Products | Shariah oversight | States | Last verified |
|---|---|---|---|---|
| IjaraCDC | Business Financing, Home Financing, Auto Financing | Formal Board | Nationwide | 2026-10-06 |
| Sukoon Finance | Home Financing | Third-Party Certified | 46 | 2026-08-05 |
| Guidance Residential | Home Financing | Formal Board | 38 | 2026-10-22 |
| Devon Bank | Business Financing, Home Financing | Formal Board | 34 | 2026-10-07 |
| NorthCountry Federal Credit Union | Home Financing | No Public Review | 3 | 2026-08-05 |
| Ameen Housing Cooperative | Home Financing | Third-Party Certified | 1 | 2026-08-05 |
| Neighborhood Development Center | Business Financing | No Public Review | 1 | 2026-08-05 |
| SP ZeroFinance | Auto Financing | Third-Party Certified | 1 | 2026-10-22 |
| Barakah Mortgage | Home Financing | Formal Board | See profile | 2026-08-05 |
Shariah oversight reflects what each institution publicly documents at the time of review; HalalWallet reports documentation and does not certify products. State counts come from each provider's published licensing. Providers that pay HalalWallet for placement are listed identically to those that do not. See the Trust Standard and coverage map.
Islamic banks near me: by state
Most institutions operate across many states online, with branch presence concentrated in a handful of metros. Pick your state to see which halal bank accounts and financing providers are licensed there.
All 50 states for bank accounts → · Halal mortgage availability by state →
Six questions that separate an Islamic bank from a relabeled one
- Does the account pay zero interest, and does the bank state in writing where my deposits are placed?
- Who is the Shariah board or certifying scholar, and is the certificate dated and specific to this product?
- Is the institution itself FDIC- or NCUA-insured, or does coverage pass through a partner bank, and how?
- For financing, which contract is used (Murabaha, Ijara, diminishing Musharakah) and does the institution actually take ownership of the asset?
- How are late payments handled: a fixed amount directed to charity, or a compounding fee that is bank revenue?
- Which states is the institution licensed in, and does that include mine?
For the arguments on each side of these questions, read how to tell a relabeled product from a restructured one and whether late-payment charges are riba.
How Islamic banking became legal in the United States
No law was passed to permit Islamic banking. It was fitted into existing banking law through regulator interpretations and secondary-market acceptance, which is why it exists as programs inside conventional charters rather than as a separate industry.
1987
American Finance House LARIBA begins offering Shariah-compliant home financing in California, the earliest sustained U.S. program.
1997
The Office of the Comptroller of the Currency issues Interpretive Letter 806, allowing a national bank to offer Ijara (lease-to-own) home financing as a permissible banking activity.
1999
OCC Interpretive Letter 867 extends the same treatment to Murabaha (cost-plus) financing.
2001
Freddie Mac begins purchasing Islamic home financing contracts, giving halal providers access to the secondary mortgage market.
2002
Guidance Residential launches diminishing Musharakah home financing nationally, becoming the largest U.S. halal mortgage originator.
2000s
Community banks in Chicago and Michigan add dedicated Islamic financing divisions, and Fannie Mae follows Freddie Mac into buying Shariah-compliant contracts, so halal home financing can be priced close to conventional mortgages.
2020s
FDIC-insured banks launch ring-fenced halal deposit programs and app-based halal fintechs appear, widening access to interest-free checking and savings beyond the mortgage market.
Compare the products, not just the institutions
Islamic banks in the USA: common questions
Decide where each dollar sits, then check the hard questions
Free tools that show their formulas, the questions scholars actually disagree on, and the pathways and walkthroughs for people in your situation. Evidence to bring to your provider and your scholar, not a verdict.
Decision tools
All decision toolsCanonical answers
- List of Islamic banks in the USAEvery Shariah-compliant bank, credit union, finance company and fintech, by delivery model and state, with regulator lookups.
- Qard hasan vs personal loanThe only halal way to borrow cash, and what to do when it is not available.
- Halal debt consolidationWhich consolidation routes are riba-free, a seven-step plan and a worked example.
- Profit rate vs interest rateWhat differs underneath when the two numbers look the same.
Contested questions
- Why do halal providers benchmark to SOFR, Treasury yields, or conventional mortgage rates?
- Halal-washing: how do you tell a relabeled product from a restructured one?
- Why do qualified scholars disagree about the same product?
Pathways by situation
- Recent immigrantsHalal finance when you are new to the U.S.: no credit file, ITIN or SSN, and a system that assumes you have both
- New MuslimsHalal finance for new Muslims: what to change first, what can wait, and how to handle the accounts and debts you already have
Editorial Team, HalalWallet
Independent halal finance research
Reviewed quarterly and updated for major content changes.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-22
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
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