If you find yourself in the situation that you are unable to pay your credit card debt balance off each month then there are steps you can take to reduce your interest charges.
.....
Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
The new managing director of the Muslim Community Co-operative of Australia, Chabaan Omram, in the association's latest newsletter suggests that in five to 10 years it may become an Islamic Bank. The cooperative has about 7000 members who have contributed $28 million in funds. Being a cooperative it is subject only to the laws governing cooperatives in each state in which it operates. Consequently it is not subject to the stricter regulations and rules of disclosure that entities subject to the reporting requirements of ASIC and the supervision of APRA are. This lesser degree of oversight allowed the MCCA to replace its entire senior management team earlier this year without any comment or scrutiny. It was only in the association's April 2008 newsletter that the MCCA notified members of the appointment of an acting senior management team, and it was only in June 2008 that members would have learnt that the previous general manager, Rahim Ghouse, "moved on in October 2007". There have in the past been financial problems. In 2000 the MCCA set up a credit union, the Muslim Community Credit Union, to meet what the MCCA's management said was an increasing demand for Islamic finance. However by 2002 that business had its licence withdrawn and had to be liquidated. The other major player in the sharia finance home loan market is Iskan Finance of Sydney. It also has its clients' mortgages financed by an external funder, and operates a scheme similar to the MCCA's S2L.
