Islamic Bank Australia - search results

The first, and only, fully-fledged Shariah compliant bank in Australia has surrendered its restricted banking license to the Australia Prudential Regulation Authority (APRA) due to struggles in raising the capital needed to maintain the hard-earned license, the neobank confirmed.

Australian Islamic finance provider Hejaz Group has taken one step closer to its goal of offering a holistic range of products and services with its latest investment in the country's lone fully-fledged Islamic bank.

After about a decade crucial foundational work, IBA Group has finally received its long-awaited regulatory go-ahead to operate as Australia’s first-ever Islamic bank; and in an interesting turn of events, it will forgo the traditional brick-and-mortar approach and instead, go fully digital.

Insurance marketplace PolicyStreet has gained an official nod of approval from Labuan Financial Services Authority (Labuan FSA) to offer Takaful and reTakaful products to the wider region.

Brighsun EV Group, an Australian firm focusing on new energy technology, has issued the 2UT STO token, a Shariah compliant security token also known as RAMZ.

A Sydney-based Islamic investment manager has launched a digital solution in a bid to reach out to the wider Australian community.

myIOU, the Malaysian buy-now-pay-later (BNPL) arm of Australia-listed IOUpay, has achieved positive adjusted net operating cashflow for the fourth consecutive quarter in the July—September 2022 period. This is on the back of receiving a Shariah seal of approval and forming new partnerships with Islamic finance-related entities.

IOUpay has named Malaysian Islamic banking veteran Wan Asmadi Wan Ahmad as the non-executive chairman of its board of directors as the Australian public listed firm prepares to roll out an Islamic fintech product over the next few months.

Having partnered with an Islamic bank last year to support its digital transformation, Hexaware Technologies’s Mobiquity has now launched a digital Islamic banking minimum viable product (MVP), with a view of capturing a slice of the burgeoning multitrillion dollar Islamic finance market.