AMBUL iBANK TRUST

In 2014, the Aly Manji Business Legacy, an established institution with roots dating back to 1881, underwent a significant transformation. It transitioned into AMBUL AMC Inc. (American Business Legacy), a foreign for-profit corporation incorporated by the Secretary of State of Texas. This entity later evolved into the AMBUL Islamic Fund for Economic Development (AMIFED), a nonprofit corporation. With its rich history, AMIFED, as a nonprofit financial institution, played a pivotal role in forming a subsidiary namely AMBUL IBANK Corporation, registered in Puerto Rico, US territory by providing the necessary financial backing and expertise, particularly cross border trade and finance.