The Superannuation Guarantee rate is gradually increasing to 12 per cent. The SG will remain at 9.5 percent until 1 July 2021, when it will increase to 10 per cent, and then in 0.5 per cent increments annually until 1 July 2025 when it will finally reach 12 per cent.

The Annual State of the Global Islamic Economy Report highlights the $2.2 trillion opportunity across lifestyle sectors in serving the faith-inspired ethical needs of the world’s 1.8 billion Muslim consumers.

Crescent Wealth was featured in the report showcasing our leadership in addressing the demand for Islamic super & ethical investments.

THE IMPACT OF GLOBAL HEALTH PANDEMICS ON SUPERANNUATION

As COVID-19 continues to impact on many aspects of life across the globe, we know that the way we manage your savings has an impact on the world around us. Responsible and Islamic valued superannuation funds like Crescent Wealth consider the social implications of investing in addition to financial return.

This year however, we learnt just how significant the impact the external world has on the superannuation funds and the industry as a whole.

While political, regulatory, economic or technological changes are relatively slow and able to be planned for – the global pandemic demonstrated that rapid changes can happen on a global scale.

COVID-19 has proven how truly interconnected the world is today. Even before coronavirus reached Australia’s shores, many ASX-listed company’s’ supply chains were being impacted by China’s lockdowns early in the year.

The changes to international and domestic travel, the increases in sanitization and social distancing means that the cost of operating has changed significantly during 2020.

For members of superannuation funds, this might mean their employment status has changed, their take home income has been impacted and their ability to contribute to their super has altered.

STATE OF THE GLOBAL ISLAMIC ECONOMY REPORT (2019/2020)

The Annual State of the Global Islamic Economy Report (SGIE) is the go-to reference for investors, entrepreneurs and industry executives for everything Islamic/ Halal related.

Their recent 2019/2020 report has just launched across major cities globally, including New York, Dubai, Kuala Lumpar, Jakarta and Sydney.

Crescent Wealth was featured in the report showcasing our leadership in addressing the demand for Islamic super & ethical investments.

The State of the Global Islamic Economy Report is in its 7th year of production and produced by DinarStandard, in partnership with SalaamGateway (the largest news and insights media for the global Islamic economy) and Supported by Dubai Islamic Economy Development Center (DIEDC).

This year, DinarStandard is fully driving the production of the Report with Refinitiv (formerly ThomsonReuters) serving as the Islamic Finance data partner.

The Annual State of the Global Islamic Economy Report highlights the $2.2 trillion opportunity across lifestyle sectors in serving the faith-inspired ethical needs of the world’s 1.8 billion Muslim consumers. The report has global reach exceeding 90,000 readers across 85 countries, with substantial media coverage including CNN, BBC and Wall Street Journal; offering detailed insights into market sectors such as Food, Fashion, Travel, Pharma, Cosmetics, Finance, Media & Recreation.

We were proud to join the Australian official launch in Sydney on the 28th November 2019 where the key highlights and opportunities were presented as well as a panel session that highlighted the important success stories.

Also attending the event his the His Excellency, the Ambassador of UAE to Australia Mr Abdulla AlSubousi, representatives of Government on State and Federal level and the Australian corporate and Muslim community.

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