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The Times Australia

Australia will soon have its first Islamic bank. What does this mean, and what are the challenges?

  • Written by: Md Safiullah (Safi), Senior Lecturer in Finance, RMIT University

Islamic banks have become an integral part of the financial system in many Muslim-majority countries, as well as in nations with sizeable Muslim minorities such as the United Kingdom, South Africa, Sri Lanka and Thailand.

Australia is poised to join them. From mid-2024, Islamic Bank Australia is set to offer Australia’s 813,000 Muslims a...

Read more: Australia will soon have its first Islamic bank. What does this mean, and what are the challenges?

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