Enda Kenny

Ireland aims to become hub for Islamic finance

Ireland has set itself the goal to become a global Islamic finance hub since its funds industry has passed beyond the €1 trillion (Dh4.73tn) mark. Thus, the country can take a larger slice of the continuously growing Islamic finance sector. After strengthening Ireland's position in the Sharia-compliant sector by attracting its first fund promoted from Malaysia, the country makes plans for further expansion and growth in this area.

Ireland aims to be home of Islamic finance in Europe

In the path of rebuilding its once dominant financial services sector, Ireland aims to become the home of Islamic finance in Europe.
The taoiseach, Enda Kenny, stated that the Irish tax laws and financial regulations are now sharia-compliant. It seems that the government had recently signed double-taxation agreements with Saudi Arabia, Bahrain, Kuwait and the United Arab Emirates.

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