US-Based Halal Challenger Bank Officially Launches Waitlist to Nationwide Consumers

Fardows, an Islamic neo bank established in the United States of America (USA), has officially opened its waitlist to consumers around the country. Fardows commenced operations to service business and consumer demand for Shariah-compliant loans, banking and other financial services.

Why it Matters?

Although Islam is the fastest-growing religion globally and in the USA, Muslims’ financial requirements, remain largely unfulfilled. Muslims account for 900 million of the world's 1.3 billion unbanked population, which amounts to 70%, according to a media report. Muslims in the USA too remain considerably underbanked and excluded from the financial system. World Bank studies indicate that increasing access to Shariah-compliant banking and financial se...