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2011-06-02 Guardian: Ireland aims to be home of Islamic finance in Europe

Started by Louhi, 04.06.2011, 17:29:20

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Louhi

Quote"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
...
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.
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