Privacy in Islam

The commitment to respect the privacy of an individual is consistent with the teachings of Islam. Islam holds in the highest regard the respect of an individual’s privacy. Some of the relevant verses in the Qur’an and the teachings of the Prophet Muhammad (peace be upon him) are quoted below:

    The Privacy Act provides a set of rules governing the collection, holding, use and disclosure of personal information, including credit-related information. It also requires that we have a clearly expressed and up-to-date privacy policy in respect of our management of your personal information.

      This policy sets out how we safeguard your privacy. We recognise the importance of protecting your privacy, and are committed to ensuring the continued integrity and security of the personal information that you entrust to us.

        Given that the success of our business depends to a large degree on our members and business associates having a high degree of trust in us, we endeavour at all times to collect and manage your personal information with a high degree of care and diligence.

          We will endeavour at all times to comply with all relevant privacy laws to the extent that they apply to us. We also encourage you to contact us if you have any questions in respect of any privacy-related matter.

            We will endeavour at all times to comply with all relevant privacy laws to the extent that they apply to us. We also encourage you to contact us if you have any questions in respect of any privacy-related matter.

              The collection and holding of information

              Whenever it is reasonably practicable to do so, we collect information about you directly from you. From time to time, we may need to collect personal information from third parties

                We generally collect personal information about you which is reasonably necessary to fulfil our legal obligations, provide you with high quality goods, products or services, consider applications, enquiries or requests that you make to us, or to generally maintain your contact details.

                  We collect your personal information so that we may manage our relationship with you. This may include:

                  • Assessing your finance application and managing that finance
                  • For the purposes of direct marketing
                  • Processing your membership to our co-operative
                  • Providing you with our other products and services
                  • Comply with our legal and regulatory obligations
                  • Improve the service we provide for you

                  The type of personal information we collect from you may include your identity and contact details, such as your name, address, telephone numbers, email and address. It may also include other personal details such as your tax file number, employment details, date of birth, your income and expenses and other financial details about you such as your credit and transaction history.

                    We hold personal information relating to any enquiries or complaints made by you or on your behalf, our interactions with you, your financial interests and (if necessary) your financial position, your name, contact details and any relevant identification and any goods and services that have provided to you or discussed with you.

                      We generally hold personal information either electronically, as telephone recordings or paper files. In order to best ensure that your information is held securely, we have established security systems to protect information from unauthorised access. We also generally ensure that such information is securely destroyed or de-identified in the event that such personal information is no longer needed.

                        Where necessary, we may collect personal information about you that is sensitive. Such sensitive information includes information about the health and wellbeing of you or other individuals. Unless we are required or permitted by law to collect that information, we will obtain your consent. However, if the information relates directly to your ability to comply with your obligations to us, you are treated as having consented to its collection.

                          Disclosure of your personal information

                          We may disclosure your personal information to third parties if you request us to do so, or if such third parties generally assist us in our business. In the event that your personal information is disclosed to such third parties, we will endeavour to ensure that such information is disclosed, held or used in accordance with the Australian Privacy Principles under the Privacy Act and the Credit Reporting Privacy Code. The third parties to whom we may disclose your personal information (including credit-related information) and the circumstances of such disclosure includes:

                          • If required by law
                          • To our related companies, to our agents, contractors and external service providers.
                          • Debt collectors.
                          • Our financial advisors, legal advisors and auditors.
                          • External dispute resolution schemes
                          • Guarantors, brokers, agents, assessors, investigators, employers or former employers.
                          • Entities established to identify illegal activities and prevent fraud.
                          • Your parent or legal guardian or any other person appointed to manage your affairs (if you are under 16 years of age).
                          • Your financial advisors or service providers.
                          • Anyone involved in maintaining, reviewing and developing our business systems, procedures or equipment.
                          • Those involved in a corporate re-organisation.
                          • Credit reporting bodies and credit providers.

                          Credit Checks and credit reporting

                          When you apply for a finance facility through ICFAL we want to ensure that we are not over burdening you with any financial obligations we feel that you may not be able to meet. Therefore, as part of our processes, we seek your consent to collect and use information about you and may obtain a credit report about you.

                            Credit Reports

                            A credit report contains information related to your credit history with other financial providers. This information will assist us to accurately assess your ability to meet your financial obligations.

                              The Privacy Act regulates the information finance providers can disclose about you to credit reporting institutions and the ways in which we can use these credit reports.

                                Disclosing and exchanging your information to Credit Reporting Bodies

                                When applicable, ICFAL may disclose and exchange the following information about you to a credit reporting body:

                                • Your identification details;
                                • Credit information about you and your existing finance;
                                • Repayment history and any history of defaults;
                                • Any court proceedings information;
                                • Any serious infringements (such as fraud)

                                Using your credit information

                                The information we receive from credit reporting agencies are used to confirm your identity, assess your finance application and managing our finance with you. We may also use this information with our internal information to form our own assessment on your credit worthiness.

                                  The information we receive from credit reporting agencies are used to confirm your identity, assess your finance application and managing our finance with you. We may also use this information with our internal information to form our own assessment on your credit worthiness.

                                    Marketing our products and services

                                    We may use or disclose your personal information to inform you about, and develop, our products and services that might better serve your needs. However, you can contact us at any time if you no longer wish for us to do so.


                                      The Privacy Act does not always require us to seek your consent for the collection, disclosure or use of your personal information. However, there are some circumstances in which we will be required to do so, or choose to ask you for your consent. We may ask for your express consent or infer your consent. We will obtain your consent by asking you to provide positive verbal consent, read and sign a consent form or read and sign a document which may also contain a request consent.

                                        Use and disclosure of personal information for marketing purposes

                                        We do not sell your personal information to third parties.

                                          Generally, we and our related companies will use and disclose your personal information for marketing purposes. However, if you do not wish us to use and disclose your personal information for the purposes or marketing products and services to you, you should contact us and tell us. You can do this by:

                                          • Contacting us by telephone.
                                          • Emailing us.
                                          • Visiting our place of business.

                                          Protection of your personal information

                                          We take all reasonable steps to ensure that your personal information (including credit information and credit eligibility information) is protected from loss, unauthorised access, misuse or disclosure.

                                            Exchange of information with overseas parties

                                            While we do not generally exchange personal information with overseas parties, we may do so in the future. We may also need to send your information overseas in order to process transactions you have instructed us to make, such as international money transfers.

                                              Refusal of applications

                                              We may refuse an application by you for our services. Our refusal may be based on information obtained from credit reporting bodies either about you, another applicant, guarantor, person or entity. In those circumstances, we will generally give you written notice that the application has been refused on the basis of such information. This may also include telling you the name and contact details of the relevant credit reporting body and other relevant information.

                                                Internet and website

                                                You may contact our Privacy Officer if you have any questions or concerns about transmitting your personal information to us via the internet, as we may be able to provide other ways for you to provide your personal information.

                                                  If you access an unsecured part of our website, being a page that does not require a log-on, we may collect information about your visit, such as the time and date of such visit and any information or documents that you obtain during such visit. We may also save any data that you insert into any calculator on our website.

                                                    You need to be aware that there are inherent risks in transmitting information by internet, but we will use reasonable efforts to use appropriate encryption technology.


                                                      We may use cookies on our website to collect information. When you visit the secured pages of our website, we use cookies for security and personalisation purposes. We also use cookies to obtain information about how website is being used, when you visit the unsecured pages of our website.

                                                        How you can access or correct your personal information

                                                        You can request access to your personal information at any time, and if such information is incorrect, you may request that we correct it. You can do this by contacting us or by visiting our office. You will see our relevant contact details at the end of this privacy policy.

                                                          If you believe that we may have breached your privacy, you can access our internal complain resolution scheme without charge. In order to do so, you should advise us of your complaint by using our contact details below.