Islamic Money Australia

24/01/2026

24/01/2026

The latest update (Jan 2026) on our progress towards launching Australia's first-ever Islamic bank - from our CEO, Dean Gillespie.

Note: we're not currently a bank, and we're not offering any financial services currently. Watch this space!

03/09/2025

As many of you know, our CEO Dean Gillespie has been writing to the state and territory premiers for several years driving changes in laws to stop non-interest-based transactions being double-charged stamp-duty. This includes schemes where customers buy their houses off the bank over time without going into debt upfront.

We are pleased to have worked with RevenueNSW's commissioners multiple times to get this resolved - and NSW has now changed! Now, debt-free schemes can register with RevenueNSW and customers should not be double-charged stamp duty!

This means that the scoreboard is this:
NSW - now fixed ✅
ACT - wrote to Dean and changed approach in 2021 ✅
TAS - changed legislation following Dean's letter in 2022 ✅
VIC - already in legislation from 1990s ✅
WA - asked Dean for national approach, he is writing back 🔄
SA - asked for more details, he is writing back 🔄
NT - said would monitor other jurisdictions reforms - he is writing back 🔄
QLD - advised no plans to change - he is writing back ❌

We will provide more updates soon as we continue to work to resolve these issues for all Australians who are wanting to buy properties without going into debt.

28/02/2025

From everyone in our entire team, we wish you and your family a blessed and holy Ramadan.

02/02/2024

Islamic Bank Australia: Founded by thirteen visionaries, bringing Shariah-compliant banking down under.

A dream turning into reality in the second half of 2024. Serving over 3% of the Australian population, we're here to fill the long overdue need for Islamic banking.



Disclaimer: We’re Australia’s first Islamic bank. We're not open for business yet. We're a "Restricted ADI" which allows us to build our systems and test our products before 5 July 2024. read more here: https://buff.ly/3mkeBtY