Hejaz sees great potential in Australian Islamic financial services
Study shows nearly four in 10 Australian Muslims are stashing cash at home due to the lack of Islamic financial products in the market.
A survey has highlighted that 36% of Australian Muslims are choosing to retain “significant” cash savings at home because of the lack of Sharia-compliant finance products available in the market.
The study, which was commissioned by Hejaz Financial Services, a Melbourne-based, non-bank financial institution that offers Sharia-compliant services, consisted of digital questionnaires of 400 Muslim Australian in October 2021 surveying their financial habits and attitudes. The findings highlight the growing demand for Islamic financial products in Australia.
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