Islamic finance in Australia: history and development

Sain, M. R. M. and Rahman, M. M. ORCID: and Khanam, R. ORCID: (2013) Islamic finance in Australia: history and development. In: 3rd Malaysian Postgraduate Conference (MPC 2013), 4-5 Jul 2013, Sydney, Australia.

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Over the past four decades or so, Islamic Finance has made impressive strides. As of 2012, it was reported that USD1.6 trillion of Islamic Finance assets were managed in Shariah-compliant accounts around the world. An additional substantial sum is represented by Sukuk, or Islamic bonds. Notably too, the development of Islamic Finance is not limited to Islamic countries, Global institutions such as HSBC, JP Morgan and others, have begun to offer Shariah-compliant financial services through their worldwide networks. The approach of the study is not supplemented by any empirical work. The method employed in this study is a mixture of direct observation from the legal and regulatory perspectives, literature reviews and the authors' personal experience and association with this industry. Through examining the above, this paper shall discuss the history, development and current issues of Islamic Finance in Australia.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: This proceedings are open to public.
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Date Deposited: 02 Sep 2013 03:53
Last Modified: 13 Jun 2017 00:09
Uncontrolled Keywords: Islamic finance; shariah; Australia
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150201 Finance
22 Philosophy and Religious Studies > 2204 Religion and Religious Studies > 220405 Religion and Society
18 Law and Legal Studies > 1801 Law > 180119 Law and Society
Fields of Research (2020): 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3502 Banking, finance and investment > 350202 Finance
50 PHILOSOPHY AND RELIGIOUS STUDIES > 5004 Religious studies > 500405 Religion, society and culture
48 LAW AND LEGAL STUDIES > 4804 Law in context > 480499 Law in context not elsewhere classified
Socio-Economic Objectives (2008): B Economic Development > 90 Commercial Services and Tourism > 9001 Financial Services > 900101 Finance Services

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