AGM 2018

The 29th MCCA Annual General Meeting of members was held on 26th October 2018 at Mantra Bell City in Preston, VIC.

   

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The event was informative and celebrative, as the achievements of the 2018 financial year were presented by the board of directors to the attending members, with the 2018 audited financial statements being adopted following an active Q&A session where issues ranging from emerging market challenges to new product possibilities were raised and discussed.

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   We would like to thank our service partners, members and distinguished guests for attending the MCCA 2018 AGM.

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A special note of appreciation to MCCA Shariah Advisors, Dr. Ibrahim Abu Mohammed (Grand Mufti of Australia) and Mr. Almir Colan (Member, AAOIFI working group & Director, AUSCIF), who graced the meeting with their observations of why Islamic finance in Australia is of continued significance.


 

Highlights

Since inception of the MCCA Income Fund in 2009, the Fund has allocated:
  • Over $30.5 Million in funding for approximately 48 Islamic Centres, Mosques and Muslim community organizations.

 

                                                                                     2017                         2018

Distribution for MCCA Income Fund                      3.90%                       3.94%

New Mortgages Originated                                     $162 Million            $191 Million

Funds Under Management – Income Fund          $47 Million             $53.8 Million

 

  • New appointment:  Ms Fatoum Souki

Ms Fatoum Souki Has been a practicing Solicitor in Melbourne’s western suburbs for the past 10 years in the areas of business and commercial law, property, general litigation and negotiation amongst others.

Has a Bachelor of Law and Legal Practice Management (Victoria University) and a Graduate Diploma of Legal Practice (College of Law) Was appointed to the Board in October 2018.”

 

 

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