Islamic Bank Australia (IBA) is Australia's first licensed Islamic bank, operating under the regulatory oversight of the Australian Prudential Regulation Authority (APRA). The bank was founded to meet the needs of Australia's Muslim community by providing financial products that are compliant with Islamic principles, primarily avoiding the use of interest (Riba). After receiving a Restricted Authorised Deposit-taking Institution (RADI) licence in 2022, IBA was granted a full, unrestricted ADI licence in 2024, allowing it to operate as a full-service bank. Its mission is to offer ethical, community-focused banking solutions, including everyday accounts, savings, and home financing (Ijarah), to all Australians seeking a values-based alternative.

Founded in

Australia