Update on the recent announcement from Senator Nick Sherry

Nick Sherry was on SBS Radio in Australia giving a telephone interview direct from the Gulf yesterday (Tuesday 27th April) discussing what he was doing with the tax man in Australa and focusing on Islamic finance as part of the capital funding mix – Australia being a net importer of funds.

He went on to say that Australia had a lot of work to do to be able to secure Islamic funds. He pointed out that it was not just a matter of tax reform and that we needed to review our systems to be amenable to Islamic finance and ensure we have a level playing field.

It looks as if the ball has really started rolling on this – which can only be good news for the Islamic finance industry – and Australia too, of course.