At the 2010 Annual General Meeting (AGM) of the MCCA Group that was held late last year, Dr. Aladin Zayegh on behalf of the Chairman Dr. Akhtar Kalam welcomed Mr. Hyder Gulam and Mr. Mohammad Helmy to the MCCA Ltd. Board.
The MCCA Ltd. Board of Directors is comprised as follows – Dr. Akhtar Kalam (Chairman), Dr. Zuhair Segu, Dr. Abdul Khair Jalaluddin, Dr. Zehdi Ferkh, Dr. Aladin Zayegh, Mr. Hyder Gulam and Mr. Mohammad Helmy.
MCCA started business in 1989 as a registered cooperative in the inner Melbourne suburb of Burwood with $20,000 and a vision to address the financial, banking and investment needs of the Australian Muslim community by offering Shariah-compliant housing mortgage loan products.
In 2010 MCCA celebrated its 21st birthday – a significant milestone for the business and a testament to its steadfast commitment to the organisation’s vision and values of Integrity, Excellence, Innovation, Faith and People.
In 2009 MCCA developed and launched the ASIC regulated MCCA Income Fund in response to a growing demand within the Australian Muslim community for a Shariah compliant investment based on ethical investing principles as an alternative to traditional / mainstream investments.
New product development plans are well advanced and MCCA Group is on target to release three new Shariah compliant products by the second quarter of 2011 –
- Property Trust
- Superannuation Trust
- Equity Trust
During his AGM address Dr. Zayegh also made mention of the Australian Taxation Board Review that is currently underway.
Dr. Zayegh said he welcomed the Review and hoped that it will address many of the anomalies that have adversely impacted on Islamic Finance and future Islamic Banking products and product development / innovation.
