Growing influence of Sharia law in US

What happened: On April 8, the California Assembly Committee on Public Employment and Retirement voted unanimously to adopt AB2017, a bill that allows state employees to take leave for Islamic holidays. On April 22, the California Assembly passed the bill. Meanwhile, Texas Attorney General Ken Paxton announced an investigation on April 26 into a Dallas-based group, the Islamic Tribunal of Texas, accused of operating as a sharia law court.

Market impact: These developments signal a growing influence of Sharia law in the U.S., potentially impacting sectors like financial services, as companies may need to adapt products and services to comply with Sharia principles. Additionally, it could affect employment practices in states like California and Texas, impacting human resources and benefits management companies.

What to watch next: The fate of AB2017 in the California Senate and the outcome of the Texas Attorney General's investigation into the Islamic Tribunal of Texas. Also, monitor any further legislative or regulatory actions related to Sharia law in other states.