Hejaz sees great potential in Australian Islamic financial services
Our Chief Operating Officer, Muzzammil Dhedhy, was interviewed this week to discuss the finding of our recent survey on the financial behaviour and attitudes of Australian Muslims.
According to our recent survey, over 1 in 3 Australian Muslims keep significant cash savings at home because of a lack of suitable finance options and to avoid earning interest (which is seen as non-Sharia).
Further, almost half (46 per cent) of those who have taken out a mortgage with a traditional bank, did so “reluctantly”, in the knowledge that interest income runs contrary to their religious beliefs.
There is now an estimated 1.2 million Muslims in Australia and they are a growing community with substantial assets which need financial services that accommodate their religious beliefs.
Read the article to learn the results of Hejaz Financial Services latest research into the financial habits and attitudes of Australian Muslims.