Once upon a time, Ireland was known for its tax-free artists. Then, as a tech bubble. Now, it's trying to pick up the financial pieces by going sharia compliant.

From the Guardian (via Shariah Finance Watch)

Ireland has launched a bid to become the home of Islamic finance in Europe as it seeks to rebuild its once dominant financial services sector.

The taoiseach, Enda Kenny (wicked smile, above), who was swept to power on a wave of public anger at the taxpayers' €70bn (£62bn) bailout of failed banks, told the Irish Funds Industry Association (IFIA) that he was doing everything he could to "ensure" Dublin became "a centre of excellence for Islamic finances".

Does that mean he's  converted?

Irish tax laws and financial regulations are now sharia-compliant, he said, and the government had recently signed double-taxation agreements with Saudi Arabia, Bahrain, Kuwait and the United Arab Emirates.

The taoiseach, Enda Kenny, who was swept to power on a wave of public anger at the taxpayers' €70bn (£62bn) bailout of failed banks, told the Irish Funds Industry Association (IFIA) that he was doing everything he could to "ensure" Dublin became "a centre of excellence for Islamic finances".

"There is first-mover advantage. If they [Islamic institutions] feel comfortable in a particular jurisdiction and you develop a cluster, more will follow," said Ken Owens, chairman of the IFIA. He said there was currently "a scramble" for Islamic business internationally and Ireland is just behind the UK in terms of adjusting its laws to be sharia-compliant....

Owens said Irish and UK financial institutions, which were devastated by the financial crisis, saw opportunities worth billions in Islamic finance, either seeking to get a toehold in Islamic countries or attract Islamic institutions to Dublin. ...

Below: the mosque at Clonskeagh, County Dublin