Islamic Banking is a Banking system that is consistent with Islamic law (Shariah) principles and guided by Islamic Economics.
Islamic Law does not restrict commercial or financial transaction providers to be Muslims. However, the particular product or transaction must be in compliance with Shariah guidelines.
There are currently over 1.5 billion Muslims in the world, it is in this regards that financial institutions are introducing Shariah compliant products to their offerings.
The Chase Bank Islamic banking division was launched in May 2009. From its launch to date it has grown and was recently re branded in a rich green and gold in the shape of the Chase Bank sails. With this new branding came the name Chase IMAN.
The Green is a symbol of growth and hope and the color Gold is a reflection of success. The Chase Bank sails under which this brand is housed will see to the constant movement in the right direction.
Chase IMAN Shariah advisory Board is made of a group of individuals whose duty it is to see to the compliance and regulation of all Chase IMAN products and services. The board was appointed so as to ensure that Chase IMAN is in full compliance with Islamic Law.
