“The extremes of wealth and poverty in every Muslim country demonstrate that Australia has nothing to gain from Sharia banking “ Queensland’s DLP Senate team Leader Tony Zegenhagen.
The DLP rejects the encouragement of Sharia-compliant financial products foreshadowed on Monday 26 April in a media release by the assistant Treasurer Senator the Hon Nick Sherry.
“Australia has always been a united country and never before has the tax office made special rules for any one culture or religion over another,” said Tony Zegenhagen, the DLP's Senate Team leader for Queensland.
“The extremes of wealth and poverty in every Muslim country demonstrate that Australia has nothing to gain from Sharia banking.“
Mr Zegenhagen continued: “Generations of all cultures including Islamics have made their homes here and have enjoyed the lifestyle and business environment that Australia provides. It would be an insult to them and their families to openly favour and promote a religio-cultural finance model to remove the equal playing field that business and private individuals now enjoy."
Tony Zegenhagen emphasised the longstanding DLP policy for the re-establishment of a Development Bank to reduce the need for foreign borrowings. “A properly constituted Development Bank would have the clout to warn against profligate expenditure of scarce funds which should be directed instead to infrastructure."
See further information on the DLP policy for a Development Bank
