June 8 (Bloomberg) -- Australia may seek to attract more Islamic financing to Sydney to beat the global recession, the Sydney Morning Herald said, citing new Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen.

Australia, which has the fourth-largest pool of superannuation funds under management in the world, could create jobs and wealth by attracting a percentage of the Islamic finance market, the paper said, citing Bowen, 36. He was formerly assistant treasurer, the paper said.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

Last Updated: June 7, 2009 20:55 EDT