There is no Islamic bank in Melbourne, or anywhere in Australia, so nobody can walk into a branch and open a Shariah-structured current account. What Melbourne does have is the largest cluster of Islamic finance head offices in the country: Hejaz Financial Services in the CBD, MCCA at 169 Sydney Road, Coburg, Amanah Islamic Finance at 765-767 Sydney Road, Brunswick, Afiyah in Truganina by appointment, NAB's Islamic business finance team, and the ICCV, Australia's largest halal certifier, at 12 Howes Street, Airport West. Sydney-based ICFAL and Ijarah Finance serve Victorians remotely. This page maps each by product and says where a Melbourne resident should go for a home, a car, a business facility or savings. The provider directory holds the full profiles.
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Why there is no Islamic bank in Melbourne, and what exists instead
An Islamic bank needs a banking licence from APRA, and the one attempt to obtain a full licence for a Shariah-compliant bank ended without a bank opening its doors; the story of why Australia has no Islamic bank covers the detail. What took its place is a layer of non-bank financiers, each licensed by ASIC for credit or financial services rather than by APRA for deposits. They finance homes, cars and businesses through lease and sale structures, they offer investment funds rather than deposit accounts, and they rely on conventional banks for the transactional plumbing. For a Melbourne resident the practical result is that the home or car can be financed in a Shariah-structured way from a local office, while the everyday account still sits at a conventional bank or in a fintech app.
Melbourne-headquartered providers by product
| Provider | Office as published | Products | Licence as published | Shariah oversight as published |
|---|---|---|---|---|
| Hejaz Financial Services | Melbourne CBD head office; also offices in Bahrain, Indonesia, China and London | Home finance (5% to 20% deposit tiers), car finance to $150,000, Halal Money account and app, managed funds, ETFs, SMSF | Corporate authorised representative under AFSL 517686 | Minarah Consulting as external Sharia Supervisory Board; dated certificates downloadable |
| MCCA | 169 Sydney Road, Coburg VIC 3058 (all states except NSW and ACT) | Residential and commercial property finance, SMSF finance, Income Fund, Property Fund | ACL 388808; AFSL 291356 (MCCA Asset Management) | Named Australian advisors plus Amanie Advisors; product fatwas published |
| Amanah Islamic Finance | 765-767 Sydney Road, Brunswick VIC 3056 | Home purchase, refinance, construction, SMSF, commercial vehicle and equipment finance | ACL 461889 | Shariah qualifications, certifications and a monthly audit page published |
| Afiyah | Truganina office by appointment; Melbourne, Victoria | Brokerage for first home, next home, investment, refinance, SMSF property, small development | Authorised credit representative CRN 577318 | Independent Shariah governance and oversight stated; scope page published |
| NAB Islamic Business Finance | National bank; Islamic finance team within business banking | Business finance from $3 million minimum for commercial property, land, acquisitions, equipment and livestock | Authorised deposit-taking institution | Signed off by advisors from bodies including AAOIFI and the IFSB, as NAB states |
| ICCV | 12 Howes Street, Airport West VIC 3042 | Halal certification for food processors, abattoirs, raw materials and pharmaceuticals; no consumer finance | Accredited by the Department of Agriculture, Fisheries and Forestry | Endorsed and overseen by Muslim scholars; impartial external committee |
Three of these are worth a sentence each. Hejaz reports more than 10,000 active members and $4 billion in funds under management and advice, and is the only Melbourne provider that covers home, car, everyday money and investments under one roof. MCCA is the oldest, with more than 30 years of property finance and the most detailed Shariah governance page in the country. Amanah is the only one of the three to publish a monthly Shariah audit, and its site also lists target market determinations for its prime and non-conforming home finance products dated July 2026.
Sydney-based providers that serve Victoria remotely
ICFAL, the member co-operative in Sydney, told its members in a published notice that it operates throughout Australia and encourages applications from other states. Its home finance requires membership, a 20% deposit and about a six-month wait for funds, with a $700,000 cap; its car finance is a murabaha with a $100 lifetime membership and no establishment or monthly fees. A Melbourne member deals with it by phone and portal. Ijarah Finance, based in Bankstown, is open to citizens, permanent residents and non-residents nationally; its home product starts at a 5% deposit for residential property and its vehicle and equipment lease is for ABN holders of a year or more. Both are licensed credit providers, ICFAL under ACL 465922 and Ijarah Finance under ACL 387688, and both have profiles in the directory linked above.
Afiyah, although Melbourne-based, is a broker rather than a funder, and its own site says the solutions it recommends are reviewed through independent Shariah governance; ask which financier sits behind any proposal. Riyadh FS and Baraqah also take Victorian applicants, but Baraqah's site could not be reached when checked for this article, so its current terms are unverified. For a car in Melbourne specifically, the city car finance guide on this site compares Hejaz, ICFAL, Insaaf and Ijarah Finance on deposit, term and eligibility.
Victoria-specific items: stamp duty and first home buyer help
The State Revenue Office of Victoria's first home buyer page states that a first home buyer pays no land transfer duty on a home with a dutiable value up to $600,000, and a reduced amount between $600,001 and $750,000, where dutiable value is the price paid or market value, whichever is greater. A first home buyer purchasing a new home valued up to $750,000 may also be eligible for the $10,000 First Home Owner Grant. These concessions apply to the buyer regardless of how the purchase is financed, and MCCA's FAQ says grant paperwork must reach it at least three weeks before settlement. A Melbourne first home buyer using Islamic finance should claim both through the financier, as the SRO's approved agents handle grant lodgement.
The question Islamic finance raises in Victoria is whether a two-step transaction, where the financier or its funder acquires an interest and then transfers it to the buyer, attracts duty twice. The SRO maintains an Islamic finance page, but it could not be retrieved when checked, so this article does not state its terms. What the providers publish is reassuring in practice: MCCA says the client's name is registered on the title from the start, holding as agent of the funder, and Ijarah Finance says the same arrangement is used precisely to avoid double stamp duty. Ask your financier for the SRO ruling or practice note it relies on before you sign, and confirm it with a conveyancer.
Everyday banking for a Melbourne resident
Because no provider in Melbourne takes deposits under a banking licence, the everyday account is a workaround. The two options are a conventional transaction account with interest switched off or disposed of, and the Hejaz Halal Money account, which Hejaz describes as a transactional account with spend, invest and trade features and which it states is not covered by the Financial Claims Scheme. The everyday banking playbook walks through both, including how to choose an account with no overdraft or credit features, and lists the Victorian options. Salary, bills and the direct debit for your Islamic home finance all run through this account, since MCCA and ICFAL both require an Australian bank account for instalments.
- Home buyer: MCCA in Coburg for a 10% deposit lease-to-own, Amanah in Brunswick for home purchase, refinance or construction, Hejaz for its tiered deposit products, or ICFAL remotely for a partnership contract if you have 20% and can wait.
- Car buyer: Hejaz for a consumer murabaha up to $150,000; Insaaf or ICFAL for member-based murabaha; Ijarah Finance for a business vehicle lease.
- Business owner: NAB's Islamic desk from $3 million, Amanah for commercial vehicles and equipment, MCCA for commercial property through its Income Fund.
- Saver: MCCA's Income Fund, Hejaz's managed funds and Halal Money, or ICFAL's member funds, all of which are investments rather than deposits.
- Super member: see the note on Hejaz Islamic Super below before choosing a fund.
- Food business: the ICCV in Airport West for halal certification, which is a product standard rather than a finance service.
Superannuation: one Melbourne product is closing
Melbourne residents searching for Islamic super in 2026 should know that Hejaz Islamic Super is closing and members are being moved, which the Hejaz super closure guide explains with deadlines. The alternatives are national rather than local, and that guide compares them. This matters for the Melbourne map because Hejaz was the only locally headquartered super option; after the closure, Melbourne's Islamic finance strength is in financing and funds, not retirement products.
Verdict by need
A Melbourne home buyer has the best choice in the country: three funders within a few kilometres of each other on Sydney Road and in the CBD, plus two Sydney co-operatives and brokers that will work remotely. Start with MCCA if your deposit is 10%, Amanah if you want the most published governance including a monthly audit, Hejaz if you want home and car with one provider, and ICFAL if you have 20% and value a loss-sharing partnership. A car buyer should compare Hejaz's consumer murabaha with Insaaf's and ICFAL's member products, and use Ijarah Finance if the car is for a business. A business owner with a facility under $3 million should talk to Amanah or MCCA, and above it to NAB's Islamic desk; the business financing hub compares them. A saver should accept that every Melbourne option is a fund, not a deposit, and read the product disclosure statement for liquidity terms. The home financing hub carries the price comparison behind the home recommendation, and the car financing hub the same for vehicles. Facts checked against hejazfs.com.au, mcca.com.au, amanah.com.au, afiyah.com.au, nab.com.au, iccv.com.au, sro.vic.gov.au, icfal.com.au, ijarahfinance.com.au on 30 September 2026.
Frequently asked questions
Is there an Islamic bank in Melbourne?
No. No institution in Australia holds a banking licence to run a Shariah-structured bank, so Melbourne has no Islamic bank branch. It does have the head offices of Hejaz, MCCA, Amanah and Afiyah, NAB's Islamic business finance team, and the ICCV halal certifier, which between them cover home, car, business and investment products without deposit accounts.
Where is MCCA's Melbourne office?
MCCA's contact page lists its Melbourne head office at 169 Sydney Road, Coburg VIC 3058, serving all states except NSW and ACT, with a postal address at PO Box 73, Moreland VIC 3058 and a direct line on (03) 9384 9000. Its Sydney office at 125 Haldon Street, Lakemba handles NSW and ACT customers.
Which Islamic finance companies in Melbourne offer car finance?
Hejaz, headquartered in Melbourne, offers a consumer murabaha for new, demo and used cars up to $150,000 over 3 to 7 years. Amanah offers commercial vehicle and equipment finance for businesses. Sydney-based Insaaf and ICFAL finance cars for members nationally, and Ijarah Finance leases business vehicles to ABN holders across Australia.
Does NAB offer Islamic finance to Melbourne home buyers?
No. NAB's Islamic finance page is a business banking page offering a minimum of $3 million for commercial property, land, business acquisitions, equipment and livestock, written by 90 accredited bankers nationally. It does not offer Islamic home finance to individuals; Melbourne home buyers use Hejaz, MCCA, Amanah, ICFAL, Ijarah Finance or a broker.
Do Victorian first home buyer concessions apply to Islamic home finance?
Yes. The State Revenue Office's duty exemption up to $600,000 and concession to $750,000, and the $10,000 First Home Owner Grant for new homes up to $750,000, depend on the buyer and the property, not the financing structure. MCCA requires grant paperwork at least three weeks before settlement. Confirm with your financier how the two-step transaction is assessed for duty.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Can I open a halal everyday account in Melbourne?
Not at a bank. The options are a conventional transaction account with no credit or overdraft features, with any interest switched off or given away, or the Hejaz Halal Money transactional account, which Hejaz markets as Shariah-compliant and states is not covered by the Financial Claims Scheme. Your Islamic home finance instalments will be debited from whichever you choose.
