The Assistant Treasurer also visited Deloitte's Islamic Finance Knowledge Centre in Bahrain and addressed a national roundtable of key figures from the Islamic finance industry in the Gulf region. Mr Dhedy said upgrading its technology platform is a “key step” to creating digital infrastructure needed to service more Australians directly. The Islamic finance provider has partnered with Simpology, a Islamic Bank Australia technology provider for Islamic Home Finance Australia broking and lending industries to simplify the Halal Loans application process for its third-party channel.
Speaking to The Adviser on the occasion of the RADI being granted, Islamic Bank Australia chief executive Dean Gillespie outlined that the bank will look to distribute home finance through the broker channel, as well as direct. Murabaha, mudarabah, and musharakah create sharing relationships that allow individuals to afford property expenses. Practices like investing in alcohol companies are forbidden under sharia law.
This service may include material from Agence France-Presse , APTN, Reuters, Islamic Finance Australia AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. On the question of signing up to an Islamic bank with deposit account capabilities, Melbourne couple Melike and Ibrahim had mixed views. "The question for them arose whether they could actually undertake the Islamic banking activities within the Australian framework. And the decision was made that that Sharia Compliant Loans Australia was quite a difficult prospect." Some time ago, Amanah
