The withdrawal of GE Money from the Australian mortgage market will adversely effect the market for Islamic or sharia-compliant home loans.The largest provider of sharia compliant finance in Australia, the Muslim Community Co-Operative Australia provides home loans under the S2L label. These loans are ordinary home loans financed by GE Money Australia, but subject to a series of contracts between the borrower and the MCCA that deem them sharia compliant in the eyes of the MCCA's religious advisers.On 6 November the MCC A issued a media release in which it announced that the  S2L loan "is no longer competitive" for members and that "members should speak to their MCCA broker or our sales executives about refinancing options given there will be a costs to the member."MCCA earned $1.3 million in commissions and services fees from the S2L product in 2007/08, equal to a third of the cooperative's revenue.The costs of fostering this lending is less clear but the loss of the revenue stream must make the 2008 profit of $100,000 hard to repeat.The 2007/08 annual report of MCCA shows that a planned partnership with the Kuwait Finance House failed to materialise. Not only did the MCCA loose a second provider of sharia compliant funding, but it was also left to bear the costs of  a due diligence exercise associated with  the proposal. The MCCA's general manager at the time, Rahim Ghouse, left the MCCA at about the time negotiations between Kuwait Finance and the MCCA collapsed to become chief executive of Kuwait Finance House Australia. Kuwait Finance House Australia is a wholly-owned subsidiary of Kuwait Finance House Malaysia, which is in turn wholly-owned by Kuwait Finance House Ltd, a company based in Kuwait.The MCCA's newly appointed managing director Chaaban Omran complained in his report to shareholders that 40 per cent of applicants for loans via the MCCA have been rejected by external funders, who he accuses of "cherry picking".  This suggests that the MCCA is likely to face funding shortages in the future unless its capital base is enlarged.Plans to corporatise MCCA - and may provide a better structure for fund raising compared to the current cooperative structure - have stalled, though the annual report does not disclose the reasons.Omran and the MCCA have not responded to requests for comment.