Dublin: Ireland is gradually becoming Islamic Finance hub in the European region as more and more Islamic finance companies are starting their operations in Ireland. In this line-up, Islamic finance company, Amanie Advisors, is also setting-up its operations in the Irish capital, Dublin.
According to the announcement made by IDA Ireland, Amanie Advisors is going to kick off its operations in Dublin to facilitate the customers interested in Islamic finance with its advisory.
Amanie was established in Kuala Lumpur in 2005 and provides its clients with advice on the Islamic capital markets, structured finance and fundraising solutions.
From its Dublin office the company will also give advice on product structuring that complies with Islamic Shariah law as well as Shariah supervisory and monitoring services, annual Shariah reviews and Shariah screening for equities.
Its European deal origination will be managed from the Dublin office by Noel Lourdes who was an advisor to the Central Bank of Ireland from 2009 to 2012 and previously practiced with KPMG Corporate Finance.
“The move by Amanie into Ireland is significant for Ireland’s financial services sector as it will enable Irish and European companies to access a relatively new source of funding through the Islamic capital markets,” Minister for Jobs, Richard Bruton, said.
Amanie said that it chose Ireland for this investment due to its growing reputation as a hub for Islamic finance operations.
There are around $1 billion (€800 million) of Shariah-compliant funds in Ireland while around 20 percent of all Shariah funds outside the Middle East are now based in Ireland, IDA Ireland said. It is the IDA’s first investment win from a Malaysian company.