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Islamic finance presents opportunities in Australia

Posted on 30 April 2013

Australian website Financial Standard Online reports that the Muslim Community Co-operative Australia (MCCA) is in advanced discussions with an unnamed Middle Eastern company with a view to setting up a $180 million mortgage fund, a $150 million property fund, a $180 million Sukuk fund and a $5 million asset-leasing fund.
MCCA manages a Shari’ah compliant property income fund out of its headquarters in Melbourne and has just surpassed $30 million in assets under management and MCCA chairman Dr. Akhtar Kalam said this growth shows strong support for Islamic finance products within Australia………………………………………..Full Article: Source

 
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