North American Islamic Trust
The North American Islamic Trust (NAIT) is a nonprofit organization based in Indiana seeking to own and promote waqf (Islamic endowment) of Muslims in North America. As a nonprofit, NAIT qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The organization was launched by Muslim Brotherhood members in the US in 1971[1]. NAIT manages bank accounts for Muslim groups using Islamic principles and seeks to help build and preserve Mosques, often lending their boards money for this purpose and taking title to their properties. The group holds the deed to about 300 U.S. mosques--1 in 4 in the nation, as well as Islamic centers, and Islamic schools in North America[2].
The Dow Jones Islamic Fund is offered by Allied Asset Advisors, a subsidiary of the North American Islamic Trust.
A sister organization under the same name is registered in the province of Ontario in Canada.
References
- ^ In Search Of Friends Among The Foes U.S. Hopes to Work With Diverse Group
- ^ STRUGGLE FOR THE SOUL OF ISLAM: Hard-liners won battle for Bridgeview mosque
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