DomaCom partners with Crescent Group to deliver pioneering Shariah-compliant financing solution

• DomaCom and Crescent Group have entered into an exclusive Heads of Agreement to deliver a pioneering Islamic home finance product 
• The product will leverage DomaCom’s innovative fractional model that will allow Australia’s 700,000+ Muslim population to purchase a property using Shariah-compliant financing
• Crescent Group’s plan is to source institutional Islamic funding and structure its products in accordance with the highest levels of Islamic Finance compliance
• This will be an innovative, authentic and market leading product given the data shows that the market is underserviced by current financial institutions and represents a significant economic opportunity over the medium term.

Fractional investment platform provider DomaCom Limited (ASX:DCL) (‘DomaCom’ or ‘the Company’) is pleased to announce that it has entered into an exclusive Heads of Agreement with leading Australian Islamic financial group Crescent Group to deliver a much needed and underserviced housing solution to Australia’s 700,000-strong Muslim population. Attached is a recent report and presentation from DinarStandard- the world authority on the Halal economy – highlighting the opportunity in Australia.

The legal structure of Islamic finance prohibits the paying or receiving of interest which makes traditional home loan products problematic for those Muslims who wish to comply with their religion but still need financing to purchase a home.

DomaCom and Crescent Group have been working on a model which enables Australian Muslims to purchase a property with leverage using Islamic finance while maintaining the familiar structure of a traditional home purchase.