For eligibility, you will need to ensure you:
- Are an Australian Citizen or Permanent Resident of Australia
- Are aged 18 or over
You can apply online through our online form. Make sure you meet our basic eligibility criteria for our General Investment before applying.
The application process
1. Apply online
The online application may take a few minutes to complete where you’ll mention:
- Basic Details
- Contact Information
- Upload required documents
2. Deposit your fund
After your application is reviewed and approved, we will ask you to transfer your investment to ICFAL’s account.
3. Grow your investment
Sit back and enjoy halal returns on your investments.
We are one of Australia’s few, and only Islamic finance organisations, that is community-owned and operated. This means all our members have a voice in the management of the organisation and will directly share in any profit and loss of the organisation.
No single person or small group of individuals own ICFAL. The profits and losses are owned and shared by the members.
All of ICFAL's processes are screened by our Internal Shariah Board. The Shariah Board adheres to a zero-tolerance policy for prohibited elements that makes us a 100% Shariah Compliant.
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ICFAL operates a truly unique financing model by:
1. Sourcing our funds only from our members and kept in an interest-free bank account.
2. Sharing in any equity profits and losses in the sale of the property in the market.
3. Allowing for the rent and profits paid under our Musharaka financing model to be based on the actual rent and property prices using an independent valuer.
4. Our profit rates are not tied to the prevailing market interest rates.
5. ICFAL is a community-owned and operated organisation. The profits are not attributed to any single member or a small group of individuals.
6. ICFAL simply offers a platform to bring members who would like to help other members to homeownership through a proven Islamic financing model.
We believe these factors make us substantially different from other financing models.