Is Australia Shari’ah-ready?

Shahriar Mofakhami, tax & revenue partner at Maddocks in Melbourne has written a splendid primer on the subject of Australia’s readiness for Islamic finance. The brief article comes with a very useful timetable that outlines the various steps taken in Australia to achieve ‘Shari’ah readiness’. The timetable begins in February 2008 when Chris Bowen announced that the Board of Taxation would undertake a review of the tax arrangements applying to managed funds and ends with the most recent announcements in March of this year.

While not alone in pioneering Islamic finance in Australia, Maddocks certainly make a valuable contribution to the development of thought in the area of Islamic finance in Australia.

You can download the primer itself from here.