Crescent Wealth launches first Islamic super fund

Crescent Wealth has today launched Australia’s first Islamic superannuation fund, in attempt to corner what Crescent’s chief Talal Yassine believes will be a $22 billion market by 2020.

The super fund will not invest in banking, gambling, tobacco or companies that make weapons, or with companies who make heavy use (more than 30%) of gearing or who derive more than 5% of their income from interest.

Australia has just under half a million Muslims, whose religion forbids charging interest on loans.