This month we’re pleased to highlight IDP Education Ltd (IEL) as part of our Sharia-compliant investment portfolio.
IEL was initially set up by the Federal Government in 1969 and later became owned by 38 Australian Universities (many still retain ownership today), before listing on the ASX in 2015.
A leading name in the education sector, with more than 150 offices in over 30 countries, IEL partners with more than 11,000 institutions across its two business units; student placements and English language testing.
IEL is the co-owner of the IELTS (International English Language Testing System) test, which was initially established to measure English proficiency and is now used by governments and institutions worldwide for work, study, and migration purposes.
IEL also operates a university student placement agency for English-speaking universities across destinations, including Australia, New Zealand, Canada, the United Kingdom, and the United States. IDP provides counsellors who advise students on their university selection, visas, applications, and general information such as healthcare and housing.
In addition, IEL has developed a Sustainable Futures Initiative with three areas of focus:
Quality education IDP fully funds the higher education of 165 women in India, focusing on engineering, technology, medicine, law, and pharmacy.
Gender equality As a signatory to the HESTA 40:40 Vision, IEL is committed to gender diversity on executive teams (40% female, 40% male and 20% any gender) by 2030.
Climate action IEL recently began to measure and report its emissions profile and, in FY23, will investigate a pathway to net zero while also building an emissions reduction strategy.
By investing in companies such as IEL, we are delivering on our promise to Crescent Wealth members of only investing in Sharia-compliant companies helping build a better tomorrow.