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islamic finance companies for banking mortgage loans investing in australia

Fadiyah Sameh
Fadiyah Sameh
Posted: 2015-03-04

Australia, being a booming economy, especially in science, education and businesses are attracting numerous investors from around the world. Muslim investors are particularly interested in seeking investment opportunities in Australia that leads to giving birth the concept of Islamic Financing opportunities there. Some of the renowned investment services are as below. 1.Muslim Community Co-operative (Ltd) Australia (MCCA), Islamic Finance & Investments Mainly in the market since 1989, MCCA is aiming to facilitate the investment and banking needs of Australian Muslim Community by offering Islamic Finance Products and is holding the major chunk of share in the market. Their services range from Investments to Housing Loans, Saving Accounts and Car Financing options which are strictly under the Shari’ah Compliance. 2.Islamic Co-operative Finance Australia (ICFA) Working since 1998 initially from New South Whales, ICFA is providing facilities like Housing finance under Murabaha, Musharaka and ‘Ijara, Small Business Finance, Hajj and Children Education Funds etc. They have recently extended their services for Zakah funds and Qard-e-Hasana (Benevolent Funds). Their main aim is to facilitate Muslim Community in the best of the community interest and convenience. 3.Iskan Finance Pvt. Ltd Being an Australian business established in 2001, Iskan Finance is working with an objective to pioneer, create and promote the most competitive Shari’ah compliant Home Facilitation, Mortgage Facilities and Saving Options through ‘Ijara and Murabaha facilitation programs. They have a wide variety of plans to choose from that are mainly designed keeping focus the basic needs and financial status of the consumers. 4.Arab Bank Australia (ABA) Serving to fulfill the banking needs of Australian Muslims since 1986, the core areas of ABA include Everyday Banking, Property Mortgages, Personal Online Saving Accounts and International Trading Facilities with the Muslim countries. ABA promises the Musharaka model of financing and has a number of opportunities for Muslim traders and investors. 5.Australian Centre for Islamic Financing (ACIF) ACIF is a pre-eminent Australian organization with an aim to facilitate the learning and investment opportunities among Australian Muslims through research and engagement in international linkages, inclusive partnerships and contribute to the developments of the Islamic banking and finance industry, mortgage and riba free loans. They are expanding their services towards awareness and investment opportunities for both Muslim and Non-Muslim communities in Australia.

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