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Hawaii may be the First US State to Welcome Islamic Finance

March 1, 2015

The State of Hawaii may become an American Hub of Islamic finance.

Dubai, UAE, March 01, 2015(PressReleaseCircle) — FAAIF CEO and Muslim -American Camille Paldi participates in USA-UAE Bilateral Relations function sponsored by Pacific and Asian Affairs Council (PAAC) in Honolulu, Hawaii on Feb. 27, 2015. The Consul General of the United Arab Emirates in Los Angeles, H.E. Abdulla Alsaboosi addressed a Honolulu audience on the topics of business, security, and education. Alsaboosi explained the concept of Islamic finance to the audience and brought attention to the fact that many major American banks such as HSBC are currently practicing this type of finance in their everyday business affairs. In addition, every major US law firm now has an Islamic finance department.

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Alsaboosi mentioned that Emirates airlines recently bought 120 new planes from Boeing, which created 600,000 American jobs in the United States. Emirates Airlines financed this purchase with Islamic finance techniques and made an astounding 4 Billion USD in profit last year. Emirates Airlines has a strong reputation in the aviation world with all new airplanes, excellent customer service and feedback, top of the line pilots, as well as prime worldwide routes and destinations. Emirates airlines frequently finances aircraft through ijarah leasing and issuing sukuk (Islamic bonds). There is no reason why United and other USA airlines cannot achieve the same result while at the same time creating hundreds of thousands of US aviation jobs similar to Emirates airlines. The state of Hawaii may consider to issue a sukuk or Islamic Bond and achieve recognition in the international news as the first US state to issue sukuk. The UK and Australia have both issued sukuk in the range of 500 Million USD both of which were heavily oversubscribed, bringing in funds to their respective countries from the billion dollar international sukuk market. The Hawaii sukuk may be tremendously popular in the international sukuk fora.

Camille Paldi is a highly educated and exemplary US citizen born in the state of Hawaii converted to Islam and has qualified as a lawyer in four countries including the UK in addition to earning seven university degrees including an MA in Islamic finance from Durham University in the UK in 2014. In addition, Camille has obtained a post-graduate degree in the halal industry from Pakistan. Paldi is the CEO of the Franco-American Alliance for Islamic Finance and offers services in Islamic banking, halal industry, legal consultancy, advisory, and training. The FAAIF website can be found at http://www.faaif.com and Camille Paldi can be contacted at camille@faaif.com. Let FAAIF help increase your understanding of the legal and financial aspects of the Islamic finance and banking industry and expand your investment opportunities as Islamic Finance is now a global billion dollar industry.

FAAIF Limited is a legal and management consultancy firm servicing clients in Islamic banking, finance, takaful, and the halal industry. FAAIF Events is an events production and management company http://www.faaif.com.

Contact:
Camille Paldi, CEO
FAAIF Limited
Dubai, UAE
+971 (0)56 950 0562
camille@faaif.com
http://www.faaif.com

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