The International Financial Services Centre (IFSC), situated in the Custom House Docks Area in Dublin, has been established by the Irish Government with a view to creating a significant international financial services industry in Ireland. Generous tax advantages are available as an incentive to set up in the centre. A wide range of international/financial activities is eligible for the benefits offered. These must be carried out on behalf of nonresidents and where relevant in non-Irish currencies. Activities which qualify include the following: fund management, insurance, foreign exchange dealing and brokerage operations, treasury management, financial advice and financing activities.
The main clearing banks are Allied Irish Banks, Bank of Ireland, National Irish Bank Limited and Ulster Bank Limited. The Irish Stock Exchange, based in Dublin, separated from its UK counterpart at the end of l 995 and is an independent entity.