With 62% of the world’s Muslim population on our doorstep, Islamic finance offers vast opportunities to Australia’s financial services sector. These include opportunities to develop innovative Shariah compliant funds and superannuation products as well as banking and insurance products.
The development of a strong Islamic finance industry in Australia could be the ‘innovation’ that Australia needs to tap into the growing global Islamic finance market and to establish itself in the Asian Century. Ultimately, this is all tied to Australia’s ambitions of becoming a financial services hub in the Asia Pacific region………………………………………..Full Article: Source