MCCA is an organization that significantly contributes to the success and growth of Islamic finance and halal investments in Australia. MCCA started its business activities in 1989 to serve the Australian Muslim community. Initially, it created the business with $20.000 offering Shariah Compliant house financing products. The organization allows businesses and families to achieve their financial goals in line with Islamic principles. So far, for 30 years, MCCA has funded and sponsored different initiatives like building mosques, community organizations, businesses, etc.
MCCA has already become one of Australia’s leading halal investment providers because of its long history of good returns. Currently, it offers two types of shariah-compliant investments:
- Income Fund
- Property Fund
The Income Fund
The MCCA Income Fund does not invest in unethical activities like alcohol, gaming, pornography, and arms. The assets of the income fund consist of residential and commercial mortgages. The Fund distributes the net profit of the scheme to investors every month. The minimum investment in the Fund is $1000, and you are not allowed to withdraw money within the first six months.
The Property Fund
The MCCA Property Fund helps you invest in commercial, residential, or industrial properties for different purposes like leasing for rental income and later sale for capital gain.
The Fund allows you to choose your property investments. It does not present a pooled investment, but it gives more freedom to select different ethical property investments. If you want to invest in this Fund, the minimum investment can be $50,000 in most cases. However, it can vary depending on your investment scheme. Additionally, if you are thinking about short-term investments, this Fund may not be the best option for you since this Fund is not a liquid investment. Usually, you can withdraw your money only when the property is sold.
With more than 30 years of track record, MCCA provides reliable, competitive and halal investments and other Islamic finance options for Muslims in Australia. With the growth of the Muslim population in Australia, MCCA is the right option for those who are seeking Halal property financing. MCCA received the Shariah-compliant certificate for its products. Therefore, Muslims would be confident to finance their property in a halal way.
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