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1300 ISLAMIC (1300 475 264)

Earn profit share,
not interest on
your savings.

Savings periods from 1 month to 12 months
where we pay an expected profit rate.
Totally new to Australia. Totally Shariah-compliant. Coming soon!

Earn profit-share,
not interest, on
your savings.

Savings periods from 1 month to 12 months where we pay an expected profit rate.

Totally new to Australia. Totally Shariah-compliant. Coming soon!

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. We then plan to obtain APRA approval to launch publicly.

Mudarabah term deposits - profit share, not interest

For the first time in Australia, we'll offer bank term deposits that pay profit share, and not interest. Based on the Mudarabah principles, we'll use your funds for Shariah-compliant income-generating activities, and we'll share the profits with you.

Quick account opening process

You'll be able to open a term deposit account in just a few simple steps using internet banking or our mobile banking app.

Choose your maturity options

You'll be in total control when it comes to maturity options.
Choose a term that suits your needs - from 1 month to 12 months.

Roll and Grow

Simply roll your deposit and any profit earned after the maturity period to grow your funds further.

Regulated by APRA

Just like the big banks, your first $250,000 deposited with us will be protected by the Australian government’s Financial Claims Scheme (FCS).

Join our waiting list and we'll let you know the moment we're ready.

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Important regulatory notice

We hold a restricted ADI authorisation granted by the Australian Prudential Regulation Authority (APRA). This authorisation allows us to offer banking services, but is subject to certain restrictions such as a cap on the amount of deposits that we can hold in total. The purpose of the “restricted” status is that we can test our systems and processes before launching as a fully unrestricted bank.

We do not currently meet the full prudential framework and/or requirements, and you should consider this before depositing funds with us. After the completion of our “restricted” phase, we plan to obtain APRA’s approval so that we can publicly launch.

Acknowledgement of Country

We acknowledge the Aboriginal and Torres Strait Islander peoples as the first Australians and Traditional Custodians of the lands where we live, work and bank.  Our corporate head office is in Darug Country. We pay our respects to Elders past, present and emerging.   

Important regulatory notice

We hold a restricted ADI authorisation granted by the Australian Prudential Regulation Authority (APRA). This authorisation allows us to offer banking services, but is subject to certain restrictions such as a cap on the amount of deposits that we can hold in total. The purpose of the “restricted” status is that we can test our systems and processes before launching as a fully unrestricted bank.

We do not currently meet the full prudential framework and/or requirements, and you should consider this before depositing funds with us. After the completion of our “restricted” phase, we plan to obtain APRA’s approval so that we can publicly launch.

Acknowledgement of Country

We acknowledge the Aboriginal and Torres Strait Islander peoples as the first Australians and Traditional Custodians of the lands where we live, work and bank. Our corporate head office is in Darug Country.  We pay our respects to Elders past, present and emerging.   

Copyright © Islamic Bank Australia ABN 37 609 971 280, AFSL and ACL 534355. AFCA member 76324.

Information on this website does not take your personal circumstances, needs or objectives into account. Please consider its appropriateness for you.   We are not yet open for business.  We are a Restricted ADI and do not yet meet the full prudential framework, and you should consider this before banking with us once we are open for business.  Fees and charges may apply, as well as terms and conditions which you should review. Information on this website is subject to change. In order to open a credit product in future, you will need to meet our credit criteria and be approved.  Please review the product disclosure documentation provided at the time of opening your account for detailed information.