Many Muslim Australians who observe the Islamic prohibition on interest cannot get government help to buy their first home unless they compromise on their faith.
Articles on Islamic banking
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Islamic banks must follow Sharia law, and as such take a different approach to traditional Australian banks. They don’t charge interest, and are much more selective about which activities they fund.
Shariah law informs financial contracts and credit systems, and the growth of Islamic financing options provides an alternative to current debt-based banking systems.
