Islamic Finance in Australia

Interview originally published in Australia & New Zealand Property Journal, 3/11/2015

ALMIR COLAN, director of the Australian Centre for Islamic Finance (AusCIF), comments on the state of Islamic finance in Australia today, and the economic benefits that more widespread implementation could provide. 

I started AusCIF a couple of years ago primarily to educate the community and businesses about the rules and opportunities of Islamic finance, specifically in the Australian context. Since then we’ve seen start-ups and new products developed in home financing, investment and the structure of contracts in development and construction.

Many university students have also become involved in Islamic finance because of their better understanding of this...