28 Aug 2024

Saturna Capital joins Islamic Financial Companies to Declare October as Islamic Financial Literacy Month

News Article

Bellingham, WA – August 28, 2024 - Saturna Capital Corporation, in collaboration with Islamic financial companies, is proud to announce the launch of October as Islamic Financial Literacy Month. This initiative aims to educate both the general public and Muslim Americans about the principles of Islam and personal finance best practices.

Raising Awareness about Islamic Finance

Islamic finance, grounded in ethical and moral values, offers a unique approach to managing finances that differs significantly from conventional financial systems. According to the latest studies, there are approximately 4.45 million Muslims in the country, and Islam ranks as the third-largest religion in the United States, following Christianity and Judaism.1 Enhancing public understanding will benefit not only Muslims but also the general public who are interested in money management and investment strategies aligned with sustainability.

"Islamic Investing is more than just a set of financial practices; it is a reflection of values that emphasize ethical investing, social justice, and economic welfare," said Jane Carten, President of Saturna Capital. "By dedicating October to Islamic Financial Literacy, we aim to bridge the knowledge gap and promote a more inclusive financial landscape."

Empowering Muslim Americans with Financial Knowledge

In addition to raising awareness about Islamic finance, Islamic Financial Literacy Month will focus on empowering Muslim Americans with the knowledge and tools needed for sound personal financial management.

Resources available via the Saturna Capital website like Halal Money Matters provide practical financial guidance and assistance in planning for the future following Islamic principles. The Amana Mutual Funds Trust will feature hadiths relating to Islamic Finance on its Facebook page and YouTube channel throughout the month. Saturna’s Regional Managers across the US will also be presenting at various mosques and Islamic schools on topics relevant to Islamic Investing. Together, these resources are designed to help Muslim Americans improve their financial well-being and achieve greater economic stability.

"Financial literacy is a vital tool for everyone, but it is especially important for communities facing economic challenges," said Monem Salam, Executive Vice President and Portfolio Manager of Saturna Capital. "By offering tailored financial education, we hope to make a positive impact on the lives of Muslim Americans and support their journey towards financial independence and security."

Amana Mutual Funds welcomes any opportunities to present to communities in recognition of Islamic Financial Literacy Month. For those interested, please contact [email protected].

1 Zaheer, Aima. “10 States with the Highest Muslim Population in the US.” January 21, 2024. Yahoo Finance. https://finance.yahoo.com/news/10-states-highest-muslim-population-204513805

About Saturna Capital Corporation

Active Investing to Reflect Your Values

Saturna Capital Corporation, established in 1989 in Bellingham, Washington, USA, is a private, employee-owned investment adviser with US$8.9 billion in assets under management, providing investment advisory services to mutual funds, institutions, businesses, individuals, and endowments. Saturna Capital is adviser to the Amana Mutual Funds Trust, the oldest and largest family of funds in the US that follow principles of Islamic finance. Saturna Capital is also adviser to the US-based Sextant Mutual Funds and Saturna Sustainable Funds.

The Amana Mutual Funds limit the securities they purchase to those consistent with Islamic principles. This limits opportunities and may affect performance.