Customer wait list grows for Australia's first Islamic bank granted licence

For many Australian Muslims like Reem and Fouad Alameddine, the dream of home ownership has been beyond reach.

Paying or receiving interest is prohibited in Islam, so taking out a mortgage is off the table.

With no other option, the couple face the prospect of becoming lifelong renters.

"The hardest thing is the uncertainty of [renting]," Ms Alameddine said.

"And also not being able to renovate the house to fit our family."

Read More: https://www.abc.net.au/news/2022-10-12/australia-first-islamic-bank-granted-lending-licence-from-apra/101458162