Australia’s 1 million strong Muslim community have reason to celebrate with the announcement of ‘Salaam’ launching a new set of Shariah-compliant personal and wealth creation products.
The launch of Salaam was held on Monday 22 April 2024 in Bankstown at Western Sydney University attended by a host of VIPs including business and community leaders as well as representatives of financial and charitable institutions and Islamic organisations.
Photo by Z by Zahrah.
The program was MC’ed by Osman Karolia, Principal of Arkana College where the audience were addressed by a diverse group of speakers including international guest and geopolitical risk analyst, Sami Hamdi, former leader of the Australian Liberal Party, Dr John Hewson AM, business and thought leader, Nicholas Whitlam, Salaam ambassador and champion ex-boxer, Billy Dib, youth leader Sara Mansour, executive of the Lebanese Muslim Association Gamel Elkheir, CEO of the Australian Federation of Islamic Councils, Kamalle Dabboussi, CEO of Islamic Relief Australia Samir Bennegadi and CEO of the National Zakat Foundation Australia Ismail Davids.
Sami Hamdi speaking at the launch of ‘Salam’ on Monday 22 April 2024 at WSU, Bankstown. Photo by Z by Zahrah.
Speaking at the event, Managing Director of Salaam, Professor Talal Yassine OAM, highlighted the critical gap in the Australian financial landscape that Salaam aims to address saying, “As a nation, we’ve fallen behind in integrating Islamic financial practices, despite it being the world’s fastest-growing financial sector, projected to hit $8 trillion by 2026”
“There’s a significant portion of our community that are sidelined by mainstream financial products that don’t align with their values. Salaam is our response to this urgent demand that will empower and service the Australian Muslim community towards financial security and success whilst upholding the values that matter most — community, authenticity and innovation,” Professor Yassine said.
Photo by Z by Zahrah.
Commenting on the launch of Salaam, chairman of the super business Nicholas Whitlam said, “After our first nations people, Muslims in Australia are our most disadvantaged. That’s the reason why I’ve worked with Talal and the Crescent Group for over 13 years, because your voice is heard, we are here to empower your financial future and I will walk with you.”
Chairman of the home-finance business Dr John Hewson AM said, “Salaam represents a new frontier in wealth creation for Australians, not just Muslims. I have a vision that Salaam extends beyond the Muslim community, yet is fundamental to the Muslim community in Australia.”
“I am particularly pleased to be a part of providing an honest and transparent housing finance product at this very challenging time in the housing sector,” Dr Hewson further added.
Gamel Elkheir – Executive, Lebanese Muslim Association. Photo by Z by Zahrah.
Salaam will rename and absorb the fund previously known as the Crescent Wealth Super Fund, together with its team of seasoned experts in Islamic finance and wealth management, and maintain its commitment to a 100% Shariah-compliant investment approach.
“We have been investing in a 100% Shariah-compliant manner for over a decade. Our aim with Salaam’s new superannuation offerings is to empower our existing and future members to achieve their financial goals while adhering to Islamic principles of ethics and fairness, through three new superannuation products, a pension product and a home-finance offering,” said Professor Yassine.
Further products including, SMSF property finance, a Hajj savings fund, an educational fund for schools, and a Janazah (funeral) fund will be launched in the second half of 2024.
“We will be a focused player where size and scale are used to our advantage, and we will increase our community education and engagement through not-for-profit sister entities, Salaam Institute and Salaam Foundation,” Professor Yassine concluded.
For more information visit www.salaam.com.au
Ismail Davids, CEO of National Zakat Foundation. Photo by Z by Zahrah.
Kamalle Dabboussi – CEO, Australian Federation of Islamic Council. Photo by Z by Zahrah.
Samir Bennegadi, CEO, Islamic Relief Australia. Photo by Z by Zahrah.
From left: Ismail Davids – CEO, National Zakat Foundation, Ahmed Aboushabana, CEO, TLC Impact, Yasser Zaki, CEO, TLC Disability Services, Ali Omar, Managing Director, Ready Stack and Bachir Zreika, CEO, The Tax Factor. Photo by Z by Zahrah.
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