The document discusses the future of Islamic finance in Australia. It outlines that Muslim Community Co-operative Australia was established in 1989 and currently has over 7,500 members and $30 million in assets. The document proposes that within 4 years, Australia could grant its first Islamic banking license and see investment banking and capital markets utilizing Islamic finance principles. It argues that regulatory reforms are needed to allow Islamic finance to create new opportunities for wealth and job creation in Australia through innovative financial products and practices that have been used globally for over 1,000 years.
Summary on crypto fund formation and launching a crypto hedge fund in the Cayman Islands. This is a guide only by Bell Rock Group. For more detailed information, please contact us.
Earnex Financial Group is a world-class group of companies offering financial services across multiple regulatory jurisdictions. Through independence and self-determination we have built a loyal following of clients that trust, invest and join the brands we offer. Our core principles of integrity, independence and innovation are at the heartbeat of our family. Those that choose us benefit from a wide range of financial product s and ser v ices that are hones t and transparent whilst promoting a clear freedom of choice for all investors.
Summary on crypto fund formation and launching a crypto hedge fund in the Cayman Islands. This is a guide only by Bell Rock Group. For more detailed information, please contact us.
Earnex Financial Group is a world-class group of companies offering financial services across multiple regulatory jurisdictions. Through independence and self-determination we have built a loyal following of clients that trust, invest and join the brands we offer. Our core principles of integrity, independence and innovation are at the heartbeat of our family. Those that choose us benefit from a wide range of financial product s and ser v ices that are hones t and transparent whilst promoting a clear freedom of choice for all investors.
Cheyne Capital is one of Europe's leading alternative asset managers. Cheyne Capital Management (UK) LLP is authorised and regulated by the UK FSA and, along with other parts of the group, is a registered investment adviser with the US SEC. Cheyne launched its first fund in 2000 and today manages net assets of approximately $5.5 billion across a diversified suite of products.
MRHB DeFi and Sheesha Finance Announce Strategic Partnership to Bring Inclusi...associate14
The world’s first halal decentralized finance (DeFi) ecosystem MRHB DeFi is pleased to announce a strategic partnership with Sheesha Finance, a leading tokenized DeFi mutual fund platform - оnе оf thе hottest рrоjесtѕ in the industry.
The Offshore Financial Centres - Conceiling the beneficial ownerFrank Erkens
Faced with the threat that the public may lose its confidence in the financial world, the international community has decided to uncover the numerous disguises used by criminals. This two-part series focuses on a number of important disguises, and the initiatives taken to resolve the problem of the concealment of beneficial owners. In the first part, we will look at the Offshore Financial Centres. This two-part series centres around the US legislative proposal HR3886. The aim of this legislative proposal is to facilitate the identification of the beneficial owner. Of course, the question remains whether this aim will be achieved or whether, as it appears now, the problem will simply relocate.
AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.
Globally, the ship finance sector is facing one of the worst crises in terms of getting finances for their projects. Shipping companies are finding it tough to get conventional bank financing due to strained liquidity and tight credit conditions. The ship finance sector is facing one of its darkest times. Historically, ship finance was undertaken by International Conventional Banks and these banks have been hit so hard that a few of them may face bankruptcy. Despite the gloomy outlook for the global economy which has affected the entire industry and projections that depict the recovery of the global economy as an “L-shaped” rather than a “V-shaped” curve. The shipping sector has had seven huge years before “falling off a cliff” due to the global credit crisis. Banks in the region are still reluctant to lent money, and as long as banks don\'t start lending the shipping business is not going to go up. Banks are sitting on the debts of poor performing companies and have not been quick to enforce their rights. 2009 was a year when facilities were amended and defaults waived which is happening throughout the world. The question remains to be seen as to whether or not there is sufficient equity within the shipping sector to keep the ship owners going over the coming year or whether we are experiencing a \'W\' type of recessionary curve with the second downward part of the curve to hit the markets in 2010. Considering all above issues with the conventional banking system to support the shipping industry moving, Islamic finance is emerging as a credible alternative source of ship finance.
Cheyne Capital is one of Europe's leading alternative asset managers. Cheyne Capital Management (UK) LLP is authorised and regulated by the UK FSA and, along with other parts of the group, is a registered investment adviser with the US SEC. Cheyne launched its first fund in 2000 and today manages net assets of approximately $5.5 billion across a diversified suite of products.
MRHB DeFi and Sheesha Finance Announce Strategic Partnership to Bring Inclusi...associate14
The world’s first halal decentralized finance (DeFi) ecosystem MRHB DeFi is pleased to announce a strategic partnership with Sheesha Finance, a leading tokenized DeFi mutual fund platform - оnе оf thе hottest рrоjесtѕ in the industry.
The Offshore Financial Centres - Conceiling the beneficial ownerFrank Erkens
Faced with the threat that the public may lose its confidence in the financial world, the international community has decided to uncover the numerous disguises used by criminals. This two-part series focuses on a number of important disguises, and the initiatives taken to resolve the problem of the concealment of beneficial owners. In the first part, we will look at the Offshore Financial Centres. This two-part series centres around the US legislative proposal HR3886. The aim of this legislative proposal is to facilitate the identification of the beneficial owner. Of course, the question remains whether this aim will be achieved or whether, as it appears now, the problem will simply relocate.
AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.
Globally, the ship finance sector is facing one of the worst crises in terms of getting finances for their projects. Shipping companies are finding it tough to get conventional bank financing due to strained liquidity and tight credit conditions. The ship finance sector is facing one of its darkest times. Historically, ship finance was undertaken by International Conventional Banks and these banks have been hit so hard that a few of them may face bankruptcy. Despite the gloomy outlook for the global economy which has affected the entire industry and projections that depict the recovery of the global economy as an “L-shaped” rather than a “V-shaped” curve. The shipping sector has had seven huge years before “falling off a cliff” due to the global credit crisis. Banks in the region are still reluctant to lent money, and as long as banks don\'t start lending the shipping business is not going to go up. Banks are sitting on the debts of poor performing companies and have not been quick to enforce their rights. 2009 was a year when facilities were amended and defaults waived which is happening throughout the world. The question remains to be seen as to whether or not there is sufficient equity within the shipping sector to keep the ship owners going over the coming year or whether we are experiencing a \'W\' type of recessionary curve with the second downward part of the curve to hit the markets in 2010. Considering all above issues with the conventional banking system to support the shipping industry moving, Islamic finance is emerging as a credible alternative source of ship finance.
Details about the Islamic banking system in Pakistan and give an overview of Islamic banking in any Islamic country. It gives some help for the fresh students to learn about Islamic banking.
AlHuda CIBE going to organize Two days specialized training workshop on Islamic Banking & Finance on 06-07 September, 2018 at London - United Kingdom
E: info@alhudacibe.com
http://www.alhudacibe.com/conference2018/IBFUK/
Finsia Seminar Islamic Finance Challenges And Opportunities March 2010
1. Chaaban Omran
Director-MCCA Asset Management Limited
1
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Co-operative (Australia) Ltd. All rights
reserved.
2. Towering Strength
The Sky is the Limit
Solid
Inspirational
Open to All
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Co-operative (Australia) Ltd. All rights
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2
3. Introduction
Who is MCCA?
Timetable?
What is “Shariah Compliance”?
Demystifying Islamic Finance
Opening Up Markets
Creating Jobs
Way forward for Australia
Conclusion
4. ◦ The Future of Islamic Finance in Australia will
create wealth and jobs opportunities through its
innovation available to all Australians using
methods tried and tested for centuries
◦ Regulatory Approach – requires a level playing
field between Islamic and non-Islamic Finance as
well as maintain religious neutrality
◦ Growth via attracting Foreign Investment and
players
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5. Muslim Community Co-operative Australia was established in
Feb 1989 where the founders aquired a car for a customer
7,500 members with $30m of assets on Balance Sheet
Today has financed over 100 properties in various Shariah
Compliant style contracts
Removal of stamp duty by Victorian State Government:
Insertion of S57A to S57F of the State Taxation Acts
(Amendment) Act 2004.
Currently undergoing demutualisation
Holder of first Australian Retail Mortgage Investment Fund
that is Shariah Compliant
Made submissions to Hon. Minister Chris Bowen and Trade
Minister Hon. Simon Crean as well as Australian Financial
Centre Forum (The Johnson Report)
6. Horizon
◦ 1 Year – Greater awareness, understanding and
acceptance: Demystifying Islamic Finance
◦ 2 years – Basic Islamic Finance Regulatory Changes
◦ 3 years – First Islamic Banking License in Australia
Basic Banking Services – Accounts and Deposits
◦ 4 years – Investment Banking and Capital Markets
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7. Set of principles that adhere to Islamic Law
which is sourced from the Quran and the
sayings of Prophet Mohammed
Shariah Compliant Finance & Investments–
next wave of ethical investing – including
Islamic Superannuation
Needs to be seen as “Innovation” and not as a
threat to financial services or religious
overtones
Proven; it’s not smoke and mirrors
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8. Proven; it’s not smoke and mirrors: the
credible history of Islamic Banking & Finance
in practice (globally) for over 1,000 years
under the Islamic State
Premise:
◦ Riba or Interest is prohibited
◦ Asset based as opposed to cash based; money
cannot make money;
Judaism
Christianity
Other religions
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9. The underlying tradable commodity must be
an asset; substitution of real resources for
money
There are many types of contracts
◦ Murabaha: Investor charges cost plus markup
◦ Mudaraba: Client shares the profits
◦ Musharaka: Partnership of the asset
◦ Ijara: Rent/Lease to own
◦ Sukuk: Securitisation of an asset
◦ Takaful: Insurance based on mutual aid concept
◦ Wakala: Charging of fees to hold an asset
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10. Islamic finance introduces such change:
◦ It replaces the lone classical lending
contract with numerous finance contracts,
◦ Interest is replaced by:
Profit rate on partnership finance,
Markups on sale finance
Rental rates on leasing finance
In Islamic finance based on partnership,
focus would be on profitability and the rate
of return of the concerned investment.
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11. Islamic Partnership Finance
Islamic banks hold equity to finance
business enterprises.
Taking equity as partners in business
provides more information and free
monitoring, removing information
asymmetry and associated risks.
Islamic Sale & Lease Finance
In sale and lease finance Islamic banks
provide goods and services, not cash,
Both banks and the customers are equally
informed
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12. Self-Mitigated Risk
◦ When the bank maintains ownership until
repayment is complete
◦ When a real assets involved: use as collateral, and
pledge receivables.
Motivational aspects to the customer
◦ Musharaka or Mudaraba, with a profit ceiling (they
know what they are in for during product life
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14. Banking
◦ Accounts (Dividends versus Interest)
◦ Deposits (Mudarabah Deposits)
Wealth Management
◦ Islamic Superannuation; treatment of Cash
Portfolios and minimum balance free from interest
◦ Islamic Insurance – “Takaful”
Finance
◦ Property Acquisitions; Residential and Commercial
◦ Hire Purchase & Asset Facilitation
Information Technology
◦ Systems, Software and Data; Global Linking, B2B, SOA
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15. Islamic Finance Training and Education
◦ Products and courses (La Trobe & Monash)
◦ Islamic Finance for newcomers (broad)
Legal Advice; lawyers and legislators
Regulatory and Corporate Advisory Services
Council of Islamic Finance – Australia
Sales Force – Banks and Mortgage Managers
Information Technology Research and Development
Investment
Government Supervision
Audit, Accounting & Taxation – ATO and Tax Practices
Management and Operational processes
Leadership and Strategy
Islamic Finance and Banking Associations
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16. Islamic finance critical requirements
◦ Ability to trade in goods and services
◦ Ability to take equity within a wider
latitude
◦ Islamic finance activities must be
treated as financial activities for tax
purposes
◦ Recognition of Islamic finance
contracts by civil, commercial and
financial-market laws.
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17. Education critical
Opening new markets and industry
Creating Jobs, an alternative avenue for Wealth
Creation. Not a matter if but when
Thank you…
17
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