Posted by “Ireland has launched a bid to become the home of Islamic finance in Europe as it seeks to rebuild its once dominant financial services sector. The taoiseach, Enda Kenny, who was swept to power on a wave of public anger at the taxpayers’ €70bn (£62bn) bailout of failed banks, told the Irish Funds Industry Association (IFIA) that he was doing everything he could to “ensure” Dublin became “a centre of excellence for Islamic finances”. Irish tax laws and financial regulations are now sharia-compliant, he said, and the government had recently signed double-taxation agreements with Saudi Arabia, Bahrain, Kuwait and the United Arab Emirates. “There is first-mover advantage. If they [Islamic institutions] feel comfortable in a particular jurisdiction and you develop a cluster, more will follow,” said Ken Owens, chairman of the IFIA. He said there was currently “a scramble” for Islamic business internationally and Ireland is just behind the UK in terms of adjusting its laws to be sharia-compliant. Sharia law prohibits the payment of interest on loans or overdrafts, or the receipt of interest, and also prevents investment in certain categories including defence, adult entertainment and gambling. “Their investment universe is quite limited. Islamic funds want to own the ship or the building, not a share in it. They want to own things outright because they can’t pay interest. They want commmodities, infrastructure, manufacturing, property,” said Owens. On the mortgage market, institutions buy the house or the commercial real estate Owens said Irish and UK financial institutions, which were devastated by the financial crisis, saw opportunities worth billions in Islamic finance, either seeking to get a toehold in Islamic countries or attract Islamic institutions to Dublin. “The US and European asset management firms are already out in the Middle East and Asia with their products but now you’ve got those guys in China going ‘I know China better than any US or European investor’ and coming to Europe to compete with us,” he said. Owens, who is a partner in Pricewaterhouse Coopers Ireland, has one Middle-Eastern client who is about to open nine funds in Ireland; and the Irish Central Bank has recently authorised several Islamic institutions to operate in the Dublin’s International Financial Services Centre. The value of funds administered in Dublin is worth €1,890bn, split evenly between Irish and non-domiciled funds”
We must take our country back from multiple entities, of course top of the list the corrupt Irish government. Secondly all estates still held by the British, this must include all mineral rights on our lands in the Irish republic. All our ports and waterways. It’s time for the descendants of British landlords, the likes of the Duke of Devonshire to be stripped of all properties that they stole from the Irish people. Take control of our country from the European Union, cut all ties for the word economic forum and deem it a threat to Ireland’s sovereignty. Cut ties with NGO’s that are funding Irish colleges, and universities that promote hate. We need help with the United States to help with oil and gas exploration around the Irish coast. Build new oil refineries on the west coast of Ireland and make Ireland energy independent. Build bridges with the United States not burn them like Micheál Martin government.
President Donald J. Trump we need some serious help in Ireland. Since the foundation of the United States the Irish have helped build America to what it is today. The Irish fought and died from the war of independence to modern day conflicts, I have family members to this day severing in the United States military. The Irish people have helped the United States, now we need help to save our country from the radical left and the European Union
Who Watches the Watchers? 