| 总结: | Islamic finance began in the 1960s, accelerated rapidly during the 1970s and has
grown significantly in the 1990s as a result of banking deregulation in the 1980s.
Although Islamic finance emerged in Australia in 1990s in response to the growing
demand of 350,000 of its Muslim population through establishment of the Muslim
Community Cooperative Australia Limited, it did not grow substantially due to an
enormous problems faced by Islamic finance industry. The underlying problem in this
regard is Australia’s legislative and regulatory framework. In order to thrash out these
problems and examine the potentials of Islamic finance in this continent we did not
attempt to evaluate the economic efficiency and profitability or otherwise, of Islamic
finance in Australia. Also, the approach for the study is not supplemented by any
empirical work. The method employed in this study is a mixture of direct observation
from legal and regulatory perspectives and authors’ personal experience, curiosity and
association with this industry. However, Shari`ah remains the only theoretical basis of
the study. Through examining the above the paper seeks to argue that since the
principles Islamic finance differ from its conventional counterparts a separate legal
framework should be established to facilitate its growth and development in the
Australian financial market.
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