Islamic Finance Under Irish Law

Edana Richardson
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Edana Richardson: Maynooth University

Chapter Chapter 7 in Islamic Finance in Europe, 2019, pp 159-183 from Palgrave Macmillan

Abstract: Abstract Over the last decade, Irish authorities have introduced accommodative measures to clarify and legislate for Islamic finance activity under Irish law. These measures have focused on the taxation of certain Islamic finance structures and have been designed to increase the alignment of tax treatment between these Islamic finance structures and their conventional alternatives. While there remain shortcomings in the current treatment of Islamic finance under Irish law, the steps taken to date by the Irish government to accommodate Islamic finance activity are to be welcomed and they go some way towards positioning Ireland as an economy in which Islamic finance activity is encouraged. This chapter will consider some of the specifics of Irish law that are relevant to Islamic finance. It will outline the approach to accommodating Islamic finance taken by the Irish government and the applicable legislative and regulatory framework. It will then discuss the current position under Irish law of three Islamic finance products: ṣukūk; Islamic investment funds; and Islamic mortgage alternatives.

Keywords: Islamic finance; Ireland; Overview; Islam; Ṣukūk; Islamic investment funds; Islamic mortgage (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-030-04094-9_7

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DOI: 10.1007/978-3-030-04094-9_7

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