From Expressindia.com: Shariat-compliance is fast catching on Down Under too. Australia will outline laws in the second half of 2011 to equalise the tax treatment of Islamic finance and conventional banking, a government official said on Thursday.
The comments from Nick Sherry, Australia’s assistant treasurer, mark the first time that the government has indicated a timeline for the change. Australia joins a growing number of non-Muslim countries, which include Hong Kong, looking to develop their Islamic finance sector by changing regulations to attract investors who can only put their money in sharia-compliant assets……………………………………….Full Article: Source