Islamic finance products could form alternative to SRI products, says Nick Sherry

The following is an extract of a piece that comes from InvestorDaily (part of MorningStar Australia). Does this mean that Islamic finance is entering the mainstream in Oz?

'Islamic finance products are not just limited to a Muslim audience, but could attract the same client base as socially responsible investment (SRI) products, according to assistant treasurer Nick Sherry.

"There are an increasing amount of people in our community interested in socially responsible investments and Islamic Shariah finance is in one sense a form of socially responsible investment," Sherry said.

He said both wholesale and retail investors were likely to be interested in these products.

"There are investors, large and small scale, who do want to invest in these forms of financial instruments," Sherry said.

"There are people in the broader community that don't like to invest in alcohol or gambling and in that sense Shariah finance is another option that is available to people," he said.