Mudarabah is not an excuse for a Muslim to go around sharia regulations. NAB have announced a market first for Australian SME lending by building a bespoke Islamic finance product for their small business customers. "The Bahrain Central Bank made a very generous offer today to work with Australian regulators as we boost our readiness for a Islamic Car Finance Australia range of Shariah-compliant products, both wholesale and retail." It said Simpology will make it easier for brokers to onboard customers, by using its digital solution to process mortgage applications. Meanwhile Islamic Banking Australia - a group of Muslim Australians and industry veterans - have Islamic Finance applied for a licence for a digital bank that is totally sharia-compliant. Construction company Binah said the NAB’s sharia-compliant finance meant Islamic Bank Loans it could take on projects with development partners and fund them while maintaining core values of their faith.
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And at the big end of town, one of the country's largest banks, NAB, is launching a specialised financing product for Islamic business customers, which the company believes is an Australian first for banking. Offer personalized, tailor-made Sharia-compliant retail banking
