Accommodating islamic banking and finance in australia


‘Australia has emerged from the global financial crisis with strong economic position and a good regulatory regime.

With our geographic position we are well placed to attract this increasingly significant component of global finance, and we need to take advantage of that,’ he said.

Peter Ware is currently the Head of SWIFT Islamic Finance Initiative.

The SWIFT Institute, is dedicated to fostering research and disseminating knowledge and information about the financial services industry.

‘To achieve all of this will require significant work to align the accounting and tax treatment of Islamic and other alternative financial products.

This week, Behnam Gurbanzada, counselor in Islamic finance to the deputy chairman of Russia’s Sberbank, shares with Marc Roussot his views on Russia where the lower house of parliament recently rejected a bill aiming at accommodating and regulating Islamic finance in the country.

I received my finance approval in 48 hours and bought a home the same week.

We have moved into our new home and my wife and children are very happy.

Paul Drum, head of business and investment policy, CPA Australia, said attracting capital and investment through Islamic finance is a huge opportunity for Australia and would ultimately be good for economic growth.Perhaps because of this strong growth, there is increasing awareness of Islamic Finance in the non-Muslim world.· Governments are increasingly supportive with tax laws and regulations accommodating Islamic Finance (e.g.Taking a broader economic and macro approach to policy in this area will be more beneficial and provide better long term benefits for Australia.It’s also more consistent with how tax law has developed in other areas such as taxation of financial arrangements.’ The CPA Australia submission also suggests Australia could adopt a similar approach to the United Kingdom, where only minor legal and regulatory reforms were required.I have been waiting patiently for a halal home finance product.

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