Phone: 1300 475 264 | 32 Smith Street, Parramatta, NSW
Islamic Bank Australia was originally founded by thirteen passionate Muslims who wanted to bring Islamic banking to Australia for the first time. With more than 3% of the Australian population of the Islamic faith, Shariah-compliant banking in Australia is long overdue. Our shareholders are these thirteen investors as well as Abreco Group, a UAE-based company who have been working to bring the dream to reality. We're not open for business yet. We're a "Restricted ADI" which allows us to build our systems and test our products before 5 July 2024.
Islamic Bank Australia was originally founded by thirteen passionate Muslims who wanted to bring Islamic banking to Australia for the first time. With more than 3% of the Australian population of the Islamic faith, Shariah-compliant banking in Australia is long overdue. Our shareholders are these thirteen investors as well as Abreco Group, a UAE-based company who have been working to bring the dream to reality. We're not open for business yet. We're a "Restricted ADI" which allows us to build our systems and test our products before 5 July 2024. We then plan to obtain APRA approval to launch publicly.
We're not open for business yet. We're working hard to launch as soon as possible

Yes, banks in Australia are required to be licenced through the government.
The biggest banks are commonly known as the big 4, these are Commonwealth Bank of Australia (CBA), Westpac, ANZ (Australia and New Zealand banking group) and NAB (National Australia Bank).
APRA (Australian Prudential Regulation Authority) regulates banks in Australia.
Most banks offer some form of high interest savings account. Sometimes these are online only offerings and may have restrictions attached to be able to get the higher rate of interest.
HISA stands for High Interest Savings Account. This is a product offering a higher rate of interest on your deposits.