Oceania
Islamic credit cards in Australia
There is no Shariah-compliant credit card on sale in Australia. That is the honest answer, and it is worth understanding why.
What we found, precisely
Why not
Australia is the clearest case in this research, because the failure is documented by the prudential regulator rather than inferred. The country's first and only retail Islamic bank was licensed in July 2022, never launched a single product, never took a deposit, and handed its licence back on 1 March 2024 because it could not raise capital. Everything downstream of that — including a credit card — was therefore never possible. Islamic finance in Australia consists entirely of non-bank home financiers and investment managers.
The market
Australia is the only one of the five markets that has never had an operating Islamic retail bank. Its Islamic finance sector is entirely non-bank: home finance (MCCA since 1989, Amanah since 2015) and investment/superannuation (Hejaz). The defining event is APRA's revocation of Islamic Bank Australia's restricted ADI licence on 7 March 2024, after the bank returned it on 1 March 2024 having launched nothing, banked nobody and held zero deposits. Islamic Money Australia continues to lobby, including a submission to an APRA review dated 31 October 2025 which APRA published in redacted form in May 2026 — so the thread is live, but there is no card and no near-term prospect of one.
What people use instead
MCCA Visa debit card with offset account
Australia's longest-established Shariah-compliant finance and investment provider, operating since 1989 with 6,500+ households, businesses and societies financed. Finance is structured on Ijarah Muntahia Bittamleek and certified by its Shariah Advisors. Offers redraw facilities, offset accounts, ATM and EFTPOS access, online account access and a Visa DEBIT card option.
Visit providerAmanah Islamic Finance home financing
Shariah-compliant home financing since 2015, with over AUD 500 million written across Australia, certified by globally recognised Shariah scholars and operating within Australian credit regulation.
Visit providerHejaz Financial Services (Halal Money app, Islamic superannuation, funds)
Melbourne-based Islamic financial services group: Islamic superannuation, property funds, managed portfolios and ETFs, plus the Global Ethical Fund (multi-asset balanced, targeting CPI + 3% p.a.) and Ethical Income Fund. Launched 'Halal Money', described as Australia's first halal investment app, and Australia's first Islamic-specialist financial adviser network.
Visit providerIslamic Bank Australia (future)
Not currently available. Licence returned 1 March 2024 having never launched. The company states it will re-apply once capital is raised, aiming to open in 2027, and APRA has confirmed the revocation does not prejudice a future application.
Visit providerA debit card on any Australian transaction account
The practical default — spend your own money, no interest, no borrowing.
Visit providerHolding a conventional card and paying in full (contested)
The common practice in the absence of any alternative.
Visit providerIslamic finance providers in Australia
- Amanah Islamic FinanceShariah-compliant home financing provider operating since 2015, reporting over AUD 500 million in Islamic finance written across Australia. Home finance only.
- Hejaz Financial ServicesMelbourne-based Islamic financial services group spanning investment management, Islamic superannuation, property funds, managed portfolios, ETFs, financial advice and lending. Flagship funds are the Global Ethical Fund (multi-asset balanced, targeting CPI + 3% p.a.) and the Ethical Income Fund. Launched 'Halal Money', described as Australia's first halal investment app, and Australia's first Islamic-specialist financial adviser network. Publishes a Sharia Screening Methodology document.
- Islamic Bank AustraliaTHE DEFINING EVENT IN AUSTRALIAN ISLAMIC BANKING. Australia's first retail Islamic bank was granted a restricted ADI (authorised deposit-taking institution) licence by APRA in July 2022. It proactively returned that licence on Friday 1 March 2024, and APRA published the revocation on 7 March 2024. APRA's release records that at the time of revocation the bank had NOT launched any products and had NO customers and ZERO deposits. The company attributes the decision to capital raising running slower than hoped, and states it will re-apply once the required capital is raised, aiming to open in 2027. APRA notes the revocation does not prejudice any future application. Australia therefore has never had a licensed Islamic retail bank in operation.
- Islamic Money AustraliaPublishes progress updates on the Islamic Bank Australia effort and lodged a submission to an APRA review (dated 31 October 2025, published redacted by APRA in May 2026), indicating continued active advocacy for an Australian Islamic banking licence. Its relationship to Islamic Bank Australia was not established in this research. Included because it is the live thread on Australian Islamic banking.
- MCCAAustralia's longest-established Shariah-compliant finance and investment provider, operating since 1989 with over 30 years of history and more than 6,500 Muslim households, businesses and societies financed. Finance products are based on Ijarah Muntahia Bittamleek (lease ending in ownership), developed with and certified by its Shariah Advisors. Offers redraw facilities, offset accounts, online access and a Visa debit card option.
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