Australia’s Hejaz eyes licence to become full-fledged Islamic bank
Hejaz Financial Services, a Melbourne-based non-bank financial institution offering Shariah-compliant services and products, is in the process of obtaining a banking licence.
The firm has started initial discussions with the Australian Prudential Regulation Authority, according to Muzzammil Dhedhy, Hejaz’s chief operating officer. The firm has also engaged with the Australian Securities and Investments Commission, said Dhedhy.
It’s still very early days.
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