What consumer protections apply to Australian Islamic funds?
The same ones that apply to any Australian financial product. A fund being Shariah compliant neither adds protections nor removes them.
- AFSL - the issuer or its authorised representative must be licensed by ASIC to deal in or advise on the product
- Disclosure - a PDS and TMD for retail products, under ASIC's disclosure regime
- APRA - prudential supervision of superannuation funds
- AFCA - free external dispute resolution, once the provider's internal process is exhausted; membership is compulsory for licensees
- Design and distribution obligations - the product must be distributed consistently with its target market
These fields are displayed on every InvestHAQ fund profile. Registration and licensing are not endorsements.
Factual and educational information only. Nothing on this page is financial product advice, a recommendation, or a Shariah ruling. Consider your circumstances and the product's disclosure documents, and seek licensed advice and qualified scholarly guidance before acting.