Comments on: Opportunities Down Under: Islamic Finance In Australia http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/ Mon, 08 Mar 2010 06:26:34 +0000 http://wordpress.org/?v=abc hourly 1 By: Haris Muhammad Islam http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-94544 Haris Muhammad Islam Fri, 06 Jun 2008 10:08:28 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-94544 Dear All, I am a Pakistani resident where insurance is still in very primitive stage and believe me when reading to articles likethis, it really excites me. Though I am a qualified insurer (ACII) still articles like this are very uncommon in this part of world. In the end I would like to thanks the people who write such articles and make it accessable even for the people like us. I would just say THANK YOU!!!!!! Dear All,

I am a Pakistani resident where insurance is still in very primitive stage and believe me when reading to articles likethis, it really excites me. Though I am a qualified insurer (ACII) still articles like this are very uncommon in this part of world. In the end I would like to thanks the people who write such articles and make it accessable even for the people like us. I would just say THANK YOU!!!!!!

]]> By: Baybers http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-24947 Baybers Thu, 10 May 2007 07:43:08 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-24947 My apologies for not writing earlier, Thank you Andrew for a superb contribution My apologies for not writing earlier,

Thank you Andrew for a superb contribution

]]> By: Andrew Reynolds http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-24162 Andrew Reynolds Sat, 05 May 2007 11:52:05 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-24162 To be honest I would not be surprised if it were sheer ignorance - as I have been discussing it with the banks and other financial institutions the usual reaction has been along the lines of "You mean there is a difference?". I think some serious work in the mainstream media is what will make the difference. If that work is targeted at the more financially focussed papers and weeklies it is likely to have more effect. Additionally, on the superannuation question, if Muslims discussed the issue in depth with their super funds, particularly the industry super funds, there may be some real movement. We shall see. To be honest I would not be surprised if it were sheer ignorance – as I have been discussing it with the banks and other financial institutions the usual reaction has been along the lines of “You mean there is a difference?”.
I think some serious work in the mainstream media is what will make the difference. If that work is targeted at the more financially focussed papers and weeklies it is likely to have more effect.
Additionally, on the superannuation question, if Muslims discussed the issue in depth with their super funds, particularly the industry super funds, there may be some real movement.
We shall see.

]]> By: Amir http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-24145 Amir Sat, 05 May 2007 10:49:48 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-24145 Andrew: It's a great article and I'm glad that you took the time and trouble to write it. I don't know how widely read that journal is in mainstream banking/finance circles but I'm sure many financial institutions here would benefit from reading it too. It's always surprised me that Australia has really lagged behind the UK, ASEAN and even Japan in looking at 'islamic finance' and no bank has yet wanted to put its toe in the water (probably because of the obvious backlash it might attract or perhaps because they are more conservative/less competitive/more content than their European counterparts?). Andrew: It’s a great article and I’m glad that you took the time and trouble to write it. I don’t know how widely read that journal is in mainstream banking/finance circles but I’m sure many financial institutions here would benefit from reading it too. It’s always surprised me that Australia has really lagged behind the UK, ASEAN and even Japan in looking at ‘islamic finance’ and no bank has yet wanted to put its toe in the water (probably because of the obvious backlash it might attract or perhaps because they are more conservative/less competitive/more content than their European counterparts?).

]]> By: Opportunities Down Under: Islamic Finance In Australia http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-23977 Opportunities Down Under: Islamic Finance In Australia Fri, 04 May 2007 07:51:17 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-23977 [...] Austrolabe have published a great article about the state of Islamic finance in Australia and some of the opportunities it represents (and challenges). It’s written by Ozrisk, who is an expert on banking and finance, and is well worth a read. In the longer term, some of the Shariah-compliant products may also appeal to non-Muslim borrowers. The sharing of risks inherent in many of these products is likely to appeal to borrowers uncertain of the future. A Mudharaba mortgage, for example, may be appealing to a person uncertain of the direction of real estate prices. [...] [...] Austrolabe have published a great article about the state of Islamic finance in Australia and some of the opportunities it represents (and challenges). It’s written by Ozrisk, who is an expert on banking and finance, and is well worth a read. In the longer term, some of the Shariah-compliant products may also appeal to non-Muslim borrowers. The sharing of risks inherent in many of these products is likely to appeal to borrowers uncertain of the future. A Mudharaba mortgage, for example, may be appealing to a person uncertain of the direction of real estate prices. [...]

]]> By: Andrew Reynolds http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-23813 Andrew Reynolds Thu, 03 May 2007 05:37:31 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-23813 No problem - it was an interesting article to put together. Although he does not admit it, Amir gave me some very useful input, for which thanks, but any errors are mine. Next step is to get some of these products out there. Look for some articles in the MSM over the next few months - I hope. No problem – it was an interesting article to put together. Although he does not admit it, Amir gave me some very useful input, for which thanks, but any errors are mine.
Next step is to get some of these products out there. Look for some articles in the MSM over the next few months – I hope.

]]> By: Club Troppo » Missing Link, Thursday May 3rd http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-23811 Club Troppo » Missing Link, Thursday May 3rd Thu, 03 May 2007 04:41:10 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-23811 [...] Austrolabe does the guest post thing again, this time with an excellent piece by banker Andrew Reynolds, where he explores different options for Sharia compliant financial instruments.22. SL: For those unfamiliar with Sharia’s basic financial rule, it’s that interest - both receiving it and charging it - is forbidden. [↩] [...] [...] Austrolabe does the guest post thing again, this time with an excellent piece by banker Andrew Reynolds, where he explores different options for Sharia compliant financial instruments.22. SL: For those unfamiliar with Sharia’s basic financial rule, it’s that interest – both receiving it and charging it – is forbidden. [↩] [...]

]]> By: ahmed http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/comment-page-1/#comment-23810 ahmed Thu, 03 May 2007 04:38:30 +0000 http://austrolabe.com/2007/05/02/opportunities-down-under-islamic-finance-in-australia/#comment-23810 Thanks Ozrisk. It's an excellent summary and I like the fact you highlighted some the areas where we need improvement. Thanks Ozrisk. It’s an excellent summary and I like the fact you highlighted some the areas where we need improvement.

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