Sharia’s Growing Influence on U.S. Finance

One of the areas where Sharia law appears to be making inroads into American society is through the U.S. financial system. -  Paul Sperry

• According to Sharia-compliant fatwas... Muslims are prohibited even from investing in the stocks of any companies whose interest-based debt exceeds 30% of their market capitalization, or whose interest-based deposits exceed 30% of the market cap of their total equity. 
• Investing in the U.S. aerospace-defense industry is also forbidden (haram). 
• So too is investing in any industries dealing in conventional banking and finance, pork products, entertainment, alcohol, or gambling. Or companies doing business with Israel.

Following pressure campaigns by Muslim lobby groups, American financial giants, including Morgan Stanley, AIG, Bank of America, Wells Fargo, Merrill Lynch, Citicorp, Goldman Sachs, and JPMorgan Chase, now offer Sharia-compliant products that strictly adhere to such Islamic criteria...
In addition, the Federal Housing Finance Agency, which controls Freddie Mac and Fannie Mae, has authorized the mortgage giants to buy Islamic mortgages,..