Mr Kingsley David, Executive Director of MCCA, had the honour of authoring the first series of articles on Islamic finance for FINSIA on its flagship InFinance platform. In this article, Mr David shared his expertise on the challenges in commercialising Shariah-certified products, delving deep into the question: can these products be funded in Australia?
Projected to reach around $2 trillion this year in asset value, the growth of Islamic finance and the versatility of its unique services has caught the attention of both Muslims and non-Muslim investors alike.
From the trade routes expanding out to Africa and Asia of the past to the Western expansion of the present, Islamic finance has seen its fair share of global pioneers, users and investors – both Muslim and non-Muslim alike!
While the expansion of Islamic finance industry as we know today seems relatively recent, the core values of Islamic finance remains the same as it was revealed in the holy Qur’an thousands of years ago, just reformatted in the mid 20th Century to be more compatible with modern banking.
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