Iskan Finance is a wholly owned Australian business established in 2001 with the core objective to better service the home financing needs of the Australian Muslim community.
In 2002 Iskan Finance commenced business with its Murabaha Facilitation Programme and building on the success of this core home financing product, has developed its Ijara wa Iqtina ("lease to purchase") facility.
Building on Iskan's acceptance and support within the Australian Islamic community, Iskan has been able to create specific products tailored for the community housing and commercial financial needs. In 2005 Tayseer was created for residential and commercial customers.
In 2006, Iskan consulted with the wider community and as a result introduced the new product called ultiMATE Home Finance package offering a wider range for our clients.
Iskan Finance has worked hard to ensure that all its financial products are functional , simple, economical, compliant with the Shariah and consistent with the Australian commercial laws.
At a practical level, Iskan Finance has established links with a number of third party providers to service its customers. For instance, the custodian of Iskan's mortgages is Perpetual Trustee Australia Limited, Mortgage Insurance is provided by G. E. Mortgage Insurance Services and others.
Iskan has contracted with Advance Investment Securities Australia Pty Ltd to manage distribution of its facilities and provide professional and efficient services. Strategic alliances have now been forged around Australia to service a growing customer base
Iskan, within a very short time period, has grown to have the largest Shariah compliant housing portfolio in Australia.
Iskan's toll free number is 1800 20 20 21 and is resourced with staff who speak Arabic and Urdu.
Iskan's Executives
Malik Helweh B.Sc.
Managing Director
Malik is a Qualified Econometrician from Macquarie University, worked for many years for the Australian Bureau of Statistics and the banking and investment industry before venturing into the commercial world where Malik managed a private Investment and Development Company. When an opportunity was presented to him to work overseas Malik was successful in establishing several, middle to large enterprises in Europe, Arabian Gulf and Africa. While the activities of these projects were diverse, some were structured to comply with the holy Shariah.
Malik along with an international and prominent Islamic banker set up a boutique consulting company in the Gulf to provide advice to individuals and institutions on structuring and developing Shariah compliant financial instruments. On his return home to Australia, Malik played the leading role in creating Iskan, developing its strategic plan and driving it to be the leading Shariah compliant finance company in Australia.
Russell Murphy
General Manager-Operation
Russell Murphy is 50 years of age and is a career property financier and has held senior positions with a number of Australian and internationally owned institutional mortgage providers. He has been with Iskan since 2001 and is responsible for the professional administration of its mortgage portfolio.
Zakia Sultana
Risk & Compliance Manager
Zakia has been with Iskan for the last three years. She is responsible for the approval and settlement of Iskan's facilities. She is also responsible for quality control and ensuring that Iskan's credit of a standard acceptable to strategic partners in the program.