Accommodating Islamic Banking and Finance in Australia
Salim Farrar
University of Sydney - Faculty of Law
University of New South Wales Law Journal, Vol. 34, No. 1, pp. 413-442, 2011
Sydney Law School Research Paper No. 12/15
Abstract:
Islamic banking and finance is still at the embryonic stage in Australia. There have been uncertainties as to how and to what extent the systems of governance at State and Federal levels should adapt in light of the difficulties faced by both local Islamic finance service providers and potential Islamic investors from overseas looking to invest their petrodollars in Australia. This paper takes a contextual and critical look at the current regulatory framework with special focus on taxation and prudential standards, and explores the need and possibilities for reform. (download link)
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