Richardson, Edana
(2011)
Islamic Finance for Consumers in Ireland: A
Comparative Study of the Position of Retail-level
Islamic Finance in Ireland.
Journal of Muslim Minority Affairs, 31 (4).
pp. 534-553.
ISSN 1360-2004
Abstract
The Irish Government’s public interest in Islamic finance has occurred only recently,
with the publication of the Tax Briefing 2009 and the modifications to the Taxes
Consolidation Act 1997, introduced by the Finance Act 2010. Echoing developments
in other non-Islamic countries, these instruments attempt to facilitate the
development of Islamic finance in Ireland by removing legislative obstacles faced
by Islamic financial products, and by clarifying the tax position of these transactions.
However, notwithstanding publicity suggesting that the Irish economy is now open to
Islamic financial activity, this accommodation has not extended, in practice, beyond
the wholesale Islamic finance market. Retail-level Islamic finance in Ireland therefore
remains undeveloped and stymied by regulatory and taxation burdens. Focusing
on domestic Islamic finance activity, this article will consider the current legal
position of Islamic finance in Ireland. Using Islamic mortgage-alternatives as an
example, it will discuss the continuing difficulties faced by those who wish to participate
in Islamic retail finance. It will also present recommendations on how this sector
could be more successfully integrated into the Irish legal framework.
| Item Type: |
Article
|
| Keywords: |
Islamic Finance; Consumers in Ireland; Retail-level; |
| Academic Unit: |
Faculty of Social Sciences > Law |
| Item ID: |
11728 |
| Identification Number: |
https://doi.org/10.1080/13602004.2011.630861 |
| Depositing User: |
Edana Richardson
|
| Date Deposited: |
18 Nov 2019 12:13 |
| Journal or Publication Title: |
Journal of Muslim Minority Affairs |
| Publisher: |
Taylor & Francis |
| Refereed: |
Yes |
| URI: |
|
| Use Licence: |
This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available
here |
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