Episode 19-Rising Down Under: Australia's Islamic Finance Landscape

In recent years, Islamic finance has gained traction in Australia. With Muslims comprising 3.2% of the population and a median age of 27, their financial needs align closely with their religious beliefs. Moreover, Australia's trade with Muslim nations like Indonesia and the UAE underscore the growing importance of Islamic finance.Yet despite these positive trends, the industry faces challenges like unfavourable regulations and raising awareness.In our 19th episode, we spoke to Imran Lum, Head of Islamic Finance at a major Australian bank. He is the author of 'A Comparative Study of Islamic Finance in Australia and the UK' (Routledge, 2022). He is also the host of the podcasts Muslim Money and Arabic with Imran Lum. In this episode, we covered several topics including:An overview of the different Muslim communities in AustraliaInsights and challenges in the Australian marketThe similarities between Islamic finance in the UK and AustraliaIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay