Ireland’s growing reputation as a hub for Islamic finance operations

Source: The Daily Business Post

Islamic finance company Amanie Advisors is to set-up an operation in Dublin, IDA Ireland has said.

Amanie was established in Kuala Lumpur in 2005 and provides its clients with advice on the Islamic capital markets, structured finance and fundraising solutions.

From its Dublin office the company will also give advice on product structuring that complies with Islam’s Sharia law as well as Sharia supervisory and monitoring services, annual Sharia reviews and Sharia screening for equities.

Amanie said it chose Ireland for this investment due to its growing reputation as a hub for Islamic finance operations.

There are around $1 billion (€800 million) of Sharia-compliant funds in Ireland while around 20 per cent of all Sharia funds outside the Middle East are now based in Ireland, IDA Ireland said. It is the IDA’s first investment win from a Malaysian company.

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