Frequently Asked Questions

On this page you will find the answers to our clients most common FAQ’s

If you have a different question, give us a call and friendly member of the Sharia Finance team will be happy to help


Yes, we provide our service to every state and territory in Australia.

Sharia Finance has an office located at 103b Jetty Road Glenelg SA 5045. If you would like to come and visit us in person our office is open Monday to Friday 9am to 6pm.

All our Islamic Finance Specialists have qualifications in both Islamic Finance as well as Finance and Mortgages. This combination of qualifications ensures that our specialists are formally educated in both Islamic Finance and Australian Banking.

Yes, the qualifications that our specialist hold allows them to be licensed members of two separate bodies:

  • Association of Islamic Sharia Advisors In Islamic Finance (ASAS)

  • Mortgage and Finance Association of Australia (MFAA)

We have helped hundred of clients nationally to successfully obtain finance. Some of our previous clients have offered testimonials to support our service which can be found on the testimonials page.

We have partnered with several Islamic finance provers nationally and we are paid by them for managing a finance application that settles. We are not paid by the Islamic funders if the finance does not settle.

We are commitment to keeping our service 100% Free to customers. For this reason, the fee that we charge is 100% REFUNDABLE when your finance application settles.

We may charge a $690 + GST REFUNDABLE Fee if you instruct us to prepare your application. This will be refunded in FULL once your finance application settles. This is our commitment to ensure that our services remains free to you.

  1. If we are unable to get your application approved. We will refund you in full.
  2. If (after we have prepared the application) you change your mind and no longer want to proceed.
  3. The information that you provided to us for the application is not correct and leads to a declined application e.g. deliberately leaving existing car finance off the application
  4. You obtain a preapproval but then do not purchase a property and the application never convert sit to a full approval.
  1. All refunds are processed on the last business day of the month. If your finance application settled in a particular month, you can expect your refund on the last business day of that month. It will be refunded to your nominated account.

Types of Finance

Application Process

While every funder is different, they will largely require similar documents. These typically include a combination of the following:

Identification: Drivers License, Passport, Visa Grant Notice.
Income: payslips, tax returns, notice of assessments.
Account Conduct: Bankstatements.
Property Ownership: Rates Notice.

Some funders will require less, some will require more. The above list is as an example only.

This depends on the complexity of the application, but we aim to have all Statement of Islamic Finance Assistance Reports prepared for our clients within 3 business days from the date we receive the refundable fee. Some reports can be prepared faster e.g. a single applicant purchasing a house, some reports may take a little longer e.g. multiple applicants using companies / trusts to purchase multiple properties.

We manage the application from start until finish. You do not need to call the funder; you can call us for updates on the application and we will do our best to provide updates in a timely manner.

This varies depending on how busy the funder is and the complexity of the application. Traditionally when rental rates go down a funder gets busier, when rental rates go up a funder gets slower. Their service levels are dependent on the current demand for their services at the time of application. We will let you know the estimated time fame at the beginning of the application.

Yes, it is very common for a funder to ask questions about an application after they receive it. As we are asking them to co-invest in property with us, they will want to make sure that they do the standard due diligence prior to granting us Full Approval.

Most funders ask standard questions about your employment history or previous borrowings to get an idea of your ability to meet your proposed monthly commitment to them.

Very very rarely. We have an approval rating of over 99%. Part of our high approval metric is our commitment to pre-submission checks. After our initial meeting, we conduct a policy assessment to ensure that your personal circumstances matches up with the funder finance criteria. This ensures that all applications are strategically placed, and we never submit and ‘hope for the best’. If a loan is declined due to error on our part, your fee will be refunded, and we will apply to the second funder in our recommendation.

For all purchase applications and some refinance applications, we strongly recommend that you speak with a solicitor / conveyancer .

On settlement day, your funder will make payment of the monies and the service will come to an end. We will contact your funder to ensure everything was paid correctly and all of your new accounts are set up properly and we will notify you when to expect you first payment.

Islamic Funders

Yes and No. As we are in Australia, all Islamic funders must make their products fit withing Australian Law. For this reason, there are a lot of similarities between the Islamic funders and how they structure their business. Most Islamic finance providers offer various types of Ijarah agreements. The major difference between funders is in their source of funds, the boards used to certify them as Sharia Compliant and their agreed rental rates.

The most common forms of Islamic finance include: Ijarah Agreements (lease to own), Diminishing Musharakah (partnership), Murabaha (profit arrangement) and Musawamah (Bargaining). The vast majority contracts offered to customers are types of Ijarah agreements.

We have some providers who advertise that their source of funding is self-generated through halal investments. We have some providers who obtain their funding form wholesale bodies including private equity firms and small banks. If source of funds is important to you, please contact us to discuss your options.

Different funders have used different boards to certify their contracts as Sharia Compliant. A few of these include, Islamic Finance Services Board, Accounting and Auditing Organization For Islamic Finance Instructions and International Fiqh Academy.

Sharia Finance is here to help

Have you tried our Islamic calculators?

With many years of experience, we will help guide you through the process and answer your questions

Book an appointment

We provide a personalized service to every client. You will know who to speak with at every step of the journey

We operate nationwide

Whether you’re in NSW, VIC, WA, QLD  or SA, we help the community all across Australia