IRELAND - Gilmore speaks of aim to develop Ireland's involvement in Islamic finance

www.businessandleadership.com - Tánaiste Eamon Gilmore addressed a seminar this morning on the Government’s aim to make Ireland a European hub for Islamic finance.

“Internationally Islamic finance, or Sharia compliant finance, has demonstrated impressive growth rates - annual growth rates have been estimated at 15 -20pc,” he said. “The global Islamic finance industry is currently valued at approximately US$1.3trn.
“We see potential for significant growth in this area and it forms an important part of our strategy for international financial services in Ireland,” he said. “We are determined to ensure that the IFSC will develop as a centre of excellence for Islamic finance and are engaging with key stakeholders to move towards achieving this goal.”  (source)

IRELAND - CAPITAL MARKETS - Goldman Sachs to list $2bn bond

www.irishtimes.com - IRELAND’S BURGEONING Islamic finance industry got a boost yesterday when financial behemoth Goldman Sachs was approved by the Central Bank to list a $2 billion “sukuk” bond on the Irish Stock Exchange, the Global Sukuk Company.  (source)

EUROPE - IRELAND - CIMA Diploma in Islamic Finance

The Chartered Institute of Management Accountants (CIMA) has launched the CIMA Diploma in Islamic Finance (CDIF) in Ireland. 

As the first professional accountancy body to introduce a professional qualification to the Irish market, CIMA is taking the lead at a time when the Irish government is actively working to establish the IFSC as a European hub for the provision of wholesale Islamic finance services.

The CDIF is the first global qualification of its kind to be created by a professional chartered accountancy institute. In conjunction with an advisory group of Shari'ah academics and scholars, CIMA has worked closely with the International Institute of Islamic Finance Inc. to develop a relevant and highly applicable qualification. (full story)

IRELAND - CIMB unit eyes US$100mil from Dublin funds

BY DALJIT DHESI

CIMB-Principal Islamic Asset Management says syariah funds can hit target by end-2011

KUALA LUMPUR: CIMB-Principal Islamic Asset Management Sdn Bhd (CPIAM) is targeting about US$100mil in sales for its Dublin domiciled collective investment in transferable securities (UCITS) III umbrella syariah funds by the end of next year.

UCITS are a set of European Union (EU) directives that aim to allow collective investment schemes to operate freely throughout the European Union on the basis of a single authorisation from one member state.

IRELAND - Bahrain and Ireland Sign a Memorandum of Understanding for Financial Services

Manama - Kingdom of Bahrain - 08 December 2010 - Bahrain today welcomed a high-level Irish delegation headed by Mr. John Bruton, Chairman of Ireland's International Financial Services Centre (IFSC) and other representatives from Ireland's financial services industry.

During their visit, the delegation hosted a seminar entitled "Ireland - the financial services gateway to Europe" which was attended by the Governor of the Central bank of Bahrain (CBB) Mr. Rasheed M. Al Maraj. This event aimed to identify investment opportunities in the Republic of Ireland, and exchange Bahrain's experiences and knowledge in the fields of Islamic Finance and Financial services in general in order to enhance the economic relations between Ireland and the Kingdom of Bahrain.