Talal Yassine

Talal Yassine OAM (born January 1, 1972) is a Lebanese Australian entrepreneur, lawyer, and philanthropist. He is the founder and managing director of Crescent Wealth, Australia's first Islamic wealth management company, that launched the country's first Islamic superannuation fund, the Crescent Wealth Superannuation Fund, and the country's first Islamic equities index, the Thomson Reuters Crescent Wealth Islamic Australia index.

Talal Yassine
BornJanuary 1, 1972
Lebanon
NationalityAustralian
Alma mater
  • Granville Boys High School
  • University of Sydney
  • Macquarie University
Occupation
  • Entrepreneur
  • Lawyer
  • Philanthropist
Known forCrescent Wealth
TitleFounder and Managing Director of Crescent Wealth
Parents
  • Ali Yassine (father)
  • Fatma Yassine (mother)
Awards
  • Medal of Order of Australia
  • Australian Muslim Professional of the Year
  • Australian Muslim Man of the Year
Websitehttps://talalyassine.ceo/

He holds an Honorary Professorial Fellowship at the Crawford School of Public Policy within the Australian National University College of Asia and the Pacific. Also, he served as Chairman of the Council for Australian-Arab Relations for the Department of Foreign Affairs and Trade (DFAT), a member of the board of DFAT's Australia Malaysia Institute, and a member of Australian Multicultural Council.

For his works, he was named Professional of the Year in 2012 and Man of the Year in 2016 in the Australian Muslim Achievement Awards. In 2010, he was awarded a Medal of the Order of Australia (OAM) for his contribution to the country's business, education, and multicultural community.

Personal life and education

He is the eldest of eight children of Lebanese Muslims[1] Ali, a poor tobacco farmer, and Fatma Yassine[2] from the rural north of Lebanon.[1] He was four years old when his family migrated to the western suburbs of Sydney, Australia in 1977 to escape the war in their country of origin. His father worked in a factory while his mother looked after the six boys and two girls. Education was prioritized in the household,[2] although neither parents were highly educated[3] and the family struggled financially.[4] All of the children are professionals and have about 30 degrees between them.[2]

Attending Granville Boys High School from 1984 to 1990, he was elected as school captain and dreamed of becoming a lawyer, practicing the profession in the local community.[4] At first, he went to study at the University of Sydney, then transferred to Macquarie University where he graduated with a law degree.[3] He holds a Master of Laws, a Master of Business Administration, and completed his Doctor of Business Administration degree with a focus on international business strategy.[5]

In an interview by the Australia Broadcasting Corporation's Radio National on July 22, 2018, Yassine said that he's married with three daughters and a son.[3]

Career

In 2010,[6] he started working at the law firm Dunhill Madden Butler, which later merged with the accounting company Price Waterhouse Coopers in 2000.[2] Later, he entered politics[3] by putting his name down for Australian Labour Party's (ALP) preselection for the legislative seat of Auburn in 2001.[2] ALP Premier Bob Carr, in his book, Run For Your Life, said that the party passed over Yassine amidst intense anti-Lebanese, anti-Muslim sentiments after a series of gang rape attacks were committed against women in Sydney by Lebanese Australian youths led by serial rapist Bilal Skaf a year before. Carr later characterized the decision as unfair and unjust to Yassine.[7] However, Yassine stated in the ABC's RN interview that he was fortunate he did not push through with politics then as anti-Islamic rhetoric intensified when weeks after the 2001 election, the September 11 attacks occurred.[3]

Later, he worked in corporate finance and technical real estate divisions[8] for the investment bank and fund manager Babcock & Brown for two years and quit before the company collapsed in 2009. Together with Ben Keneally, spouse of former New South Wales premier Kristina Kenneally, he co-founded the Australian division of electric car company, Better Place,[2] and was responsible for the company's business development and strategic partnership.[5] In mid-2011, he stepped back from the day-to-day management of the company while still holding financial interest.[2]

Yassine holds a seat in several corporate boards including as Executive Chairman of the Board at First Quay Capital and LandCorp Australia,[9] Chairman of the Australian Advisory Board of Gulf Australia Corporation, formerly as chairman at Platinum Hearing,[10][5] and a member of the Australian Arab Dialogue board.[11]

Crescent Wealth

He founded and is the current managing director of Crescent Wealth,[12] Australia's first Islamic wealth manager.[13] In an interview by The Australian on February 15, 2013, he stated that after he failed to find investment products that would satisfy Islamic requirements and were available in Australia to be offered to Muslim investors back then, he established the company in partnership with the U.S. fund manager Saturna Capital[14] to oversee international shares, with Sigma Funds to handle local shares portfolio, and with the Islamic finance subsidiary of HSBC Bank.[2]

On November 2010, it was granted the Australian Securities and Investments Commission's Australian Financial Services Licence.[15] By 2011, it launched Crescent Australian Equity fund with $5.5 million of seed capital from Aon Hewitt targeting the retail market and self-managed superannuation funds (SMSF) in particular.[6] Other financial products include the Crescent Islamic Cash Management Fund, the Crescent Diversified Property Fund, and Crescent International Equity Fund.[16]

The company also launched Crescent Wealth Superannuation Fund, the country's first Islamic superannuation fund, on December 17, 2012.[13] Complying with Islamic guidelines, it does not invest in alcohol, gambling, pornography, weapons, pork, and financial stocks like banks due to a ban on interest charges.[17]

On February 1, 2012, Crescent Wealth in partnership with Thomson Reuters launched the Thomson Reuters Crescent Wealth Islamic Australia index, Australia's first Islamic equities index.[18][19]

Civil service

Yassine's works in civil service were as a member of the boards of Sydney Ports, Sydney West Area Health Service,[2][20] the New South Wales Casino Control Authority, and New South Wales Casino Liquor & Gaming Authority.[5] Moreover, he served as non-executive director on the board of Australian Postal Corporation since August 2, 2012 until August 2015.[5]

He also was a member of the Council for Australian-Arab Relations for the Department of Foreign Affairs and Trade (DFAT)[11] for four years, serving as Chairman for three years,[21] a member of the board of DFAT's Australia Malaysia Institute,[22] and a member of the Australian Multicultural Council.[23]

Academe and philanthropy

He is an adjunct Business School professor at University of Western Sydney[24] and currently serves as an Honorary Professorial Fellow at Crawford School of Public Policy within The Australian National University.[20] Additionally, he also served as board member of Whitlam Institute within Western Sydney University[2] and Macquarie University.[20]

Moreover, according to the Australian Charities and Not-for-profits Commission, he is affiliated the following philanthropic organizations: Crescent Foundation Fund Trust, Islamic Museum of Sydney Limited, Media Diversity Australia Limited, The Trustee For Whitlam Institute Within Western Sydney University Trust, and Whitlam Institute Within Western Sydney University Foundation Council Board.[25]

Recognition

In 2010, he received a Medal of the Order of Australia in 2010 for his services to business, education, and multicultural community.[2] He received in 2012 the Professional of the Year Award from Australian Muslim Achievement Awards.[26] Also, he won the Man of the Year Award on the 2016 Australian Muslim Achievement Awards, with Crescent Wealth winning Business of the Year Award and Event of the Year Award.[27] During the 24th Sir Syed Day organized by Aligarh Muslim University Alumni of Australia on February 11, 2017, he was given recognition for his outstanding contribution to the community.[28] He was included in The Muslim 500: The World's 500 Most Influential Muslims in 2016,[29] 2017[30] and 2018.[31]

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References
  1. Trigger, Rebecca; Lattouf, Antoinette; Wright, Patrick (2016-11-26). "'That's not us': Lebanese-Australians speak out over Dutton's comments". ABC News. Retrieved 2019-01-14.
  2. Korporaal, Glenda (February 15, 2013). "Investing in Good Faith". www.theaustralian.com.au. The Australian. Retrieved 2019-01-14.
  3. "The Year That Made Me: Talal Yassine, 2001". Radio National. Radio National (RN) of Australian Broadcasting Corporation. 2018-07-22. Retrieved 2019-01-14.
  4. "Macquarie Matters - Professor Talal Yassine OAM: business leader and philanthropist". www.mq.edu.au. Macquarie University. November 14, 2017. Retrieved 2019-01-14.
  5. "Talal Yassine Hon Prof Fllw, OAM, BA, LLB, LLM, MBA". www.bloomberg.com. Retrieved 2019-01-14.
  6. MV Media (2011-10-06). "Australia's first Islamic share fund launches". MuslimVillage.com. Retrieved 2019-01-15.
  7. Bob, Carr (2018-07-02). Run for Your Life. North Sydney. ISBN 9780522873146. OCLC 1043669319.
  8. Rochfort, Scott (2011-10-04). "There's no other store for paydays". The Sydney Morning Herald. Retrieved 2019-01-15.
  9. "Talal Yassine | The Muslim 500". www.themuslim500.com. Retrieved 2019-01-15.
  10. "Australian Muslims celebrate a year of high achievement". MuslimVillage.com. 2012-11-27. Retrieved 2019-01-15.
  11. Walker, Tony (2014-10-24). "Arab-Australian business leaders call for balance". Australian Financial Review. Retrieved 2019-01-14.
  12. "Australian wealth manager partners with BLME". www.tradearabia.com. October 11, 2012. Retrieved 2019-01-15.
  13. "Australia's first Islamic superannuation option unveiled". Sunshine Coast Daily. December 17, 2012. Retrieved 2019-01-15.
  14. "U.S. And Australian Firms Partner To Issue New Islamic Equity Fund". The Global Muslim Brotherhood Daily Watch. 2012-02-24. Retrieved 2019-01-15.
  15. "Australian Islamic superannuation option launches". MuslimVillage.com. Jan 7, 2013. Retrieved 2019-01-15.
  16. The Islamic finance handbook : a practitioner's guide to the global markets. Thiagaraja, Sasikala. Singapore. ISBN 9781118936863. OCLC 880451966.CS1 maint: others (link)
  17. Chung, Frank (December 14, 2018). "Islamic super fund to target millennials, sharia-compliant investing". www.news.com.au. Retrieved 2019-01-15.
  18. Zappone, Chris (2012-02-01). "CSL top stock in Australia's first Islamic index". The Sydney Morning Herald. Retrieved 2019-01-15.
  19. "Islamic Australia stock index launched". www.abc.net.au. 2012-02-01. Retrieved 2019-01-15.
  20. "Talal Yassine - Policy Forum". Policy Forum. Retrieved 2019-01-14.
  21. "Former board members". Department of Foreign Affairs and Trade. Retrieved 2019-01-14.
  22. "Management". Department of Foreign Affairs and Trade. Retrieved 2019-01-14.
  23. Jakubowicz, Andrew. "The politics of the Australian Multicultural Council". The Conversation. Retrieved 2019-01-15.
  24. "Talal Yassine & Ed Husic named in Top 500 Muslims 2018 – Muslim Professionals Association". Retrieved 2019-01-14.
  25. acnc_charity_api_user (2018-09-28). "Talal Yassine". www.acnc.gov.au. Retrieved 2019-01-15.
  26. MV Media (November 27, 2012). "Australian Muslims celebrate a year of high achievement". muslimvillage.com. Retrieved 2019-01-15.
  27. Hadi, Yusra. "Celebrating a decade of Australian Muslim Achievement". www.amust.com.au. Australian Muslim Times. Retrieved 2019-01-15.
  28. Ahmad, Mehar (February 28, 2017). "Talal Yassine and Zia Ahmad recognised on Sir Syed Day | AMUST". Retrieved 2019-01-15.
  29. "The Muslim 500: The World's 500 Most Influential Muslims 2016" (PDF). 2016.
  30. "The Muslim 500: The World's 500 Most Influential Muslims in 2017" (PDF). www.themuslim500.com. 2017. Retrieved 2019-01-15.
  31. "The World's 500 Most Influential Muslims in 2017 and 2018" (PDF). www.themuslim500.com. 2018. Retrieved 2019-01-15.
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