The Irish government continues to build upon the steps contained in the Finance Act 2010 to support and provide equivalent taxation treatment for Shariah compliant transactions. Implementation of the International Financial Services Strategy (IFS 2020) launched in 2015, of which Islamic finance is a part, is well underway with specialized subcommittees established and due to report to the government shortly on the progress and implementation of the action points. Significant milestones in 2015 involved the hosting by University College Dublin of the inaugural Islamic Finance and Law Conference in May 2015; the launch of the Islamic Finance Council of Ireland (IFCI); competitive bidding by sovereign wealth funds for Irish assets, including Kuwait Investment Authority and Abu Dhabi Investment Authority(ADIA); and the listing of the US$500 Million APICORP Sukukon the Irish Stock Exchange.

Please click here to read the full article as it was published in the country report for Ireland in the IFN (Islamic Finance News) Guide 2016 written by Simon O’Neill