HOMESUPERFINANCEQ&AABOUT USCONTACT

 

The Global Islamic Financial Services Industry is probably the fastest growing financial sector. Currently, over a hundred financial institutions are exclusively active in this sector. The size of the market is enormous spreading over more than fifty countries. Islamic funds are currently estimated to be over US$400 billion and growing at about 15 percent per annum.

Australian Muslims like all other members of the Australian society are eager to own houses, drive cars, secure adequate savings for their retirement, buy insurance policies, obtain educational scholarship for their children, participate in the Australian equity market, contribute to Hajj and Zakat funds etc.

However, while Australians Muslims wish to do all the above, compliance with Shariah is an important consideration. Thus, Salic Australia in its suite of offerings provides n-interest based transactional products, as well as ethically screened an non-interest based investment products.

 

Visit Australia's

Only Shariah compliant Superannuation Fund

 by clicking

the Fund's logo.

Salic's Mission:

"pioneering, creating and promoting high quality Shariah compliant products for wealth creation, investment and finance for the Australian and international community"

Australians Seeking Ethical and Sound Investments in general may also be interested in ethically screened securities such as which exclude businesses which mainly deal in alcohol, pork-related products, conventional final services, entertainment (hotels, casinos/gaming & gambling, pornography etc), weapons and tobacco.

While screening out shares that are deemed ethically questionable, these indexes also screen-in for strong financial performance criteria, so as to provide for a sound investment portfolio. Thus Salic screening will:

·         Exclude companies if Debt Equity ratio is greater than or equal 33%.

·         Exclude companies if Interest Income to Total Income ratio is greater than or equal to 5%.

·         Exclude companies if the Accounts Receivables to Total Assets ratio is greater than or equal to 45%.

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