The Finance Act of 2010 has introduced several specific tax measures aimed at promoting the IFSC as a potential European hub for Islamic banks and funds.

Among the items likely to feature quite heavily on John Bruton's agenda in the coming months, is the promotion of the IFSC to the increasingly important Islamic Banks and Fund sector.

The market is understood to be estimated at $700bn and growing at a rate of 10% annually. The IDA are planning a roadshow to the Middle East in an effort to showcase the IFSC as a worthy European hub. Malaysia and the UK are understood to be developing similar pitches aimed at luring this business.

Article Published: 03/06/2010