In Ireland, Islamic mortgage aims to offer a halal financing solution to Muslim and non-Muslims living in Ireland who wish in the context of Islamic sharia to use Islamic financial products in Ireland.
Ireland is a pioneer in terms of Islamic Finance and one of the first in Europe that has begun to consider Sharia Banking as excellent option to boost the Irish financial sector.
Islamic Finance in Ireland enjoys several advantages as Ireland’s tax laws and financial regulations prepared to become Sharia compliant.
Already Ireland is a base for 20 per cent of Islamic funds based outside of the Middle East, and the plan is to expand that even further.
Irish Halal mortgage is offered now in the country through Murabaha in order to satisfy the Irish Muslim community needs of property financing under Islamic law.