• Economics
  • Published 2010

Islamic finance in Australia: the potential problems and prospects

  title={Islamic finance in Australia: the potential problems and prospects},
  author={Abu Umar Faruq Ahmad and Noor Mohammad Osmani and Mohd Fazlul Karim},
Islamic finance began in the 1960s, accelerated rapidly during the 1970s and has grown significantly in the 1990s as a result of banking deregulation in the 1980s. Although Islamic finance emerged in Australia in 1990s in response to the growing demand of 350,000 of its Muslim population through establishment of the Muslim Community Cooperative Australia Limited, it did not grow substantially due to an enormous problems faced by Islamic finance industry. The underlying problem in this… CONTINUE READING


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