The product will leverage DomaCom’s innovative fractional model that will allow Australia’s 700,000-plus Muslim population to purchase a property using Shariah-compliant financing.

() has entered into an exclusive Heads of Agreement with leading Australian Islamic financial group Crescent Group to deliver a pioneering Islamic home finance product.

The product will leverage DomaCom’s innovative fractional model that will allow Australia’s 700,000-plus Muslim population to purchase a property using Shariah-compliant financing.

A growing market

DomaCom chief executive officer Arthur Naoumidis said: “For several years, we have been working on a new option for our product that will deliver a solution to this growing market.

“We are very pleased to find a partner of the calibre and remarkable track record of Crescent Group to help us deliver this product to the Australian Muslim community.”

“Globally unique solution”

Crescent Group chief executive officer Talal Yassine OAM added: “We are excited to partner with DomaCom to deliver a globally unique solution, that is authentic, compelling and competitive.

“In addition to a deep understanding of the Australian Islamic community, Crescent Group will help DomaCom to obtain the highest levels of Shariah certification of our products as well as sourcing the required institutional funding.”

Product launch targeted Q3 2021

The legal structure of Islamic finance prohibits the paying or receiving of interest which makes traditional home loan products problematic for Muslims who wish to comply with their religion but still need financing to purchase a home.

DomaCom and Crescent Group have been working on a model which enables Australian Muslims to purchase a property with leverage using Islamic finance while maintaining the familiar structure of a traditional home purchase.

The company’s unique fractional investment platform is being extended to be able to deliver on this goal with the product launch targeted for the third quarter of 2021.

Crescent Group will lead the Shariah certification of the product and the delivery to the Australian Muslim community and engage its extensive global Islamic network to source institutional funding for these products.



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