The UK is currently the central hub for European Islamic Finance, with high numbers of institutions, high levels of inward investment and talent in the sector.
An important advantage for the UK is that its tax and regulatory framework provides a level playing field for Islamic products.
Uncertainty around Brexit is however currently leading to uncertainty in the sector, and probably more, at least in the near future. Nick Green comments in Islamic Finance News as to why Ireland might be an appealing choice for both issuers and investors, and the opportunity that might come from it.
Nick says:
"Having a structure that allows Shariah-compliant investors to invest alongside conventional investors requires complex and unique structures and arrangements. Our market-leading knowledge of these structures opens up opportunities for Shari'ah-compliant clients wanting to invest not only in the UK, but also across wider Europe. Our Interlaw network of European firms allows us potentially to facilitate the use of these structures in other countries and this flexibility could prove extremely useful for our Gulf and ASEAN investors in the near future."
Nick and fellow London-based partner Tony Poole recently won a IFN award for their work assisting a Shari'ah-compliant client to invest in significant commercial real estate assets in Ireland.
Read the full article here. (Paywall publication)
