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Islamic Bank Australia credit cards
Islamic Bank Australia is an Islamic finance provider in Australia. We have not verified a credit card from them.
Who Islamic Bank Australia are
A fully Islamic bank — every product it offers is Shariah-compliant.
THE 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.
- Founded
- 2022
- Head office
- Australia
- Regulator
- Australian Prudential Regulation Authority (APRA) — licence REVOKED
No credit card verified from Islamic Bank Australia