IslamicFinance.de

The global Islamic capital markets advisory firm Amanie Advisors has launched an Irish operation aiming to boost Ireland's growing Islamic finance sector. It is also expected to facilitate both Irish and European companies to have access to funding means of the Islamic capital markets. Amanie's group chairman Dr Daud Bakar explained the choice of Ireland with the country's increasing reputation as a hub for operations in the branch of Islamic finance.

The recent Finance Bill in Ireland closed a tax loophole used by some multinationals to maximise profit, introduced new measures to increase Ireland’s appeal as an investment destination, and contained measures to make Ireland more attractive as a hub for hedge funds and for Islamic finance. Still it was criticised on other grounds by the Institute of Certified Public Accountants in Ireland (CPA).

PROPOSED TAX changes designed to attract business from the Islamic world are likely to be a first step according to Department of Finance officials. The Finance Bill proposes to introduce new measures designed to accommodate transactions that comply with Sharia.