AUSCIF

What is Islamic finance?

Islamic finance represents financial activity that is consistent with the principles of Islamic law or the Shari‘ah, which prohibits unethical, immoral, speculative activities including interest (riba), gambling (maysir), and uncertainty (gharar).

See all "An Introduction to Islamic Finance" videos at Almir Colan's YouTube Channel.

Want to Learn more? Check out AUSCIF Academy :: https://www.auscifacademy.com ::

Islamic finance has considerable potential to become an important element in Australia’s aspirations to be a global financial services centre in the region. It has the potential to facilitate further innovation and competition in the wholesale and retail banking sectors.

Australia’s growing trade linkages with Asia reflect the demand for Australian commodities from developing countries such as China and India. Of the top 10 trading partners, eight are in the Asia Pacific Region with China and Japan being the country’s top two-way trading partners.

Continued growth in major Asian economies will result in a need to develop resources-related services and infrastructure, which are ideal assets for some forms of Islamic financing, such as Sukuk, Mudaraba, Murabaha and Ijarah. Australia is well positioned to structure and offer such instruments as part of financing packages for resources-related development.

Australia’s attractiveness as a...