Recent Entries

• NAB launches a first in Islamic business financing

  by Keva Nies November 5, 2022
  The way it works is that the financial institution mortgages the property and charges you an amount that you pay in rent. The more funds you repay, the more ownership you have in the property until it is paid off in full. Keep in mind that just because the institution doesn’t charge interest, ...

• Islamic Finance Halal Loans Sharia Finance Australia

  by Keva Nies November 4, 2022
  "The customer is at risk and the bank is at risk, and in order to achieve that it's not a debt relationship, it's more like a partnership relationship," Asad Ansari says. But that's been hard to achieve in Australia's mainstream banking system. Melbourne couple Melike Yildirim and Ibrahim Atik are s...

• Australia engages key global Islamic finance regulatory and ban

  by Keva Nies August 22, 2022
  But after the couple married in 2018, they started using an Islamic financing company to buy property. Like many Australians, Melike got her first bank account through Commonwealth Bank's Dollarmites program as a child and she still banks with the institution. With roughly 600,000 people identifying...

• What is 'Islamic Finance' and why is it growing in Australia?

  by Keva Nies August 22, 2022
  With an Islamic home loan, you can choose the home and then the financial institution will buy it from the seller. This same financial institution then agrees to lease the home for a pre-determined period, which is known as Ijarah Muntahiyah Bittamlik. At the time of the final lease payment, ownersh...

• Review of the Taxation Treatment of Islamic Finance Products

  by Keva Nies August 19, 2022
  Our Home Ijarah products can be tailored to suit individual needs. Switch your Self Managed Super to ICFAL and join a fund of $50 million+ that provides Shariah compliant returns on its investments. Our shariah-compliant financing solutions are here to help you to meet your property, vehicle or comm...

• Islamic banking is just the tip of an ethical industry movement

  by Keva Nies August 19, 2022
  In the context of Islamic finance, the ‘Islamic Bank’ has become the third limb or intermediary between the users and providers of capital. Asad was an adviser to the Australian government's review of the taxation impact of Islamic finance in 2011. He's seen the sector grow but also batt...