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Are you finding it challenging to grasp the concept of HALAL FINANCE IN AUSTRALIA? - We’ve got you! 😀
Halal Finance in Australia provides Shariah-compliant financial solutions, meeting the needs of Muslims seeking ethical investment options, while also appealing to a broader market interested in socially responsible finance.
Kaan Doluner
Director
Islamic finance has gained significant traction in Australia, reflecting a global trend towards ethical and socially responsible investing. At its core, Islamic finance operates on principles that align with Sharia law, offering an alternative financial system that promotes risk-sharing, prohibits the payment or receipt of interest (Riba), and emphasises ethical considerations in all transactions.
Quranic Reference: ٱلَّذِينَ يَأْكُلُونَ ٱلرِّبَوٰا۟ لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ ٱلَّذِى يَتَخَبَّطُهُ ٱلشَّيْطَٰنُ مِنَ ٱلْمَسِّۚ ذَٰلِكَ بِأَنَّهُمْ قَالُوٓا۟ إِنَّمَا ٱلْبَيْعُ مِثْلُ ٱلرِّبَوٰا۟ۗ وَأَحَلَّ ٱللَّهُ ٱلْبَيْعَ وَحَرَّمَ ٱلرِّبَوٰا۟ۚ فَمَن جَآءَهُۥ مَوْعِظَةٌ مِّن رَّبِّهِۦ فَٱنتَهَىٰ فَلَهُۥ مَا سَلَفَ وَأَمْرُهُۥٓ إِلَى ٱللَّهِۖ وَمَنْ عَادَ فَأُو۟لَٰٓئِكَ أَصْحَٰبُ ٱلنَّارِۖ هُمْ فِيهَا خَٰلِدُونَ Surah Al-Baqarah (2:275), it is stated that “Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allāh has permitted trade and has forbidden interest. Whoever refrains - after having received warning from their Lord - may keep their previous gains, and their case is left to Allah. But whoever returns [to dealing in interest or usury] - those are the companions of the Fire; they will be there forever.”
In Australia, the principles of Islamic finance are increasingly recognised and adopted by both individuals and institutions seeking financial solutions that comply with Islamic law while also aligning with their ethical values. This has led to the emergence of specialised financial products and services tailored to the needs of the Muslim community and beyond.
As the Islamic finance industry continues to grow in Australia, it presents new opportunities for investors, businesses, and financial institutions to participate in a more inclusive and ethical financial system. By embracing the principles of Islamic finance, Australia can foster greater financial inclusion, promote ethical investing, and contribute to a more sustainable and equitable economy.
