In Australia, sharia-compliant banking currently accounts for a marginal share of the Australian financial sector. Recent estimates expect that Islamic financial assets in Australia could reach more soon.
Australia is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Australia's islamic SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.
Currently, Australia has a number of fully operational Islamic institutions which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
AUSTRALIA ONLINE SHARIA BANK