Muzzammil Dhedhy

Hejaz Financial Services’ Global Ethical Fund is now available on HUB24, making it the first ever Islamic superannuation product to be available on both HUB24’s IDPS and Super investment menus.

This comes at a time when consumer demand for Sharia-compliant financial products and services is rising. Recent research from Hejaz found that 36 per cent of Australian Muslims store considerable cash savings at home due to a lack of financial products that fit with their faith. This large addressable market is compounded by broad consumer demand for ethical investment products.

Though Hejaz’s Global Ethical Fund, advisers will be able to connect customers with an ultra-ethical product that has returned an average of 12.10% p.a. gross over the last 3-years.

“Our vision is to provide world-leading financial products to Australian Muslims to help them grow their wealth in a way that doesn’t compromise their faith. Because many lack access to Islamic finance products, or are completely unaware of them, making the fund available on HUB24 is a major step towards giving Australian Muslims the tools to suitably manage their wealth.” said Muzzammil Dhedhy, COO at Hejaz Financial Services

“Furthermore, accessing Hejaz’s Global Ethical Fund via HUB24 enables advisers to better serve a community of 1.2 million people who are traditionally great savers and will be looking to access a range of services, from superannuation to personal or commercial property purchases.” he added.

Hejaz Finance already has around 6,500 customers directly or through intermediaries, with 400 accredited mortgage brokers. It is working with the Australian Prudential Regulation Authority towards its goal of becoming the first Islamic financial service provider to obtain a banking license.

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