International Financial Services Centre
Overview
 
The International Financial Services Centre (IFSC) is a major financial services centre in North Wall
North Wall (Dublin)
North Wall is an inner city area on the Northside of Dublin.Dominated by a combination of older housing, dockland activities and new development, from apartments and offices to hotels and the planned multi-purpose Point Village, North Wall lies downstream of the city centre....

, Dublin, Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...

. The centre employs 14,000 people and was the brainchild of an associate of businessman Dermot Desmond
Dermot Desmond
Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €1.45billion and is ranked by the Sunday Independent as the sixth-richest person in Ireland.-Background and education:...

. Both the associate and Mr Desmond approached Charles Haughey
Charles Haughey
Charles James "Charlie" Haughey was Taoiseach of Ireland, serving three terms in office . He was also the fourth leader of Fianna Fáil...

, then in opposition, who made it the centrepiece of his economic manifesto when he came back into power.
Encyclopedia
The International Financial Services Centre (IFSC) is a major financial services centre in North Wall
North Wall (Dublin)
North Wall is an inner city area on the Northside of Dublin.Dominated by a combination of older housing, dockland activities and new development, from apartments and offices to hotels and the planned multi-purpose Point Village, North Wall lies downstream of the city centre....

, Dublin, Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...

. The centre employs 14,000 people and was the brainchild of an associate of businessman Dermot Desmond
Dermot Desmond
Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €1.45billion and is ranked by the Sunday Independent as the sixth-richest person in Ireland.-Background and education:...

. Both the associate and Mr Desmond approached Charles Haughey
Charles Haughey
Charles James "Charlie" Haughey was Taoiseach of Ireland, serving three terms in office . He was also the fourth leader of Fianna Fáil...

, then in opposition, who made it the centrepiece of his economic manifesto when he came back into power. The Finance Act, 1987 (Section 30) allowed for the designation of such an area.

The IFSC comprises the area between Memorial Road, Amiens Street, Lower Sheriff Street
Sheriff Street
Sheriff Street , known by locals as "Sheriffer," or "The Street" is a small area in the north inner city of Dublin, Ireland, lying between East Wall and North Wall and often considered to be part of the latter....

 (including part of Crinan Strand), Guild Street, and the River Liffey
River Liffey
The Liffey is a river in Ireland, which flows through the centre of Dublin. Its major tributaries include the River Dodder, the River Poddle and the River Camac. The river supplies much of Dublin's water, and a range of recreational opportunities.-Name:The river was previously named An Ruirthech,...

 along North Wall Quay and Custom House Quay. Adjacent districts include East Wall
East Wall
East Wall is an inner city area of the Northside of Dublin, Ireland.-Location:East Wall is bounded by the North Strand Road to the west, by North Wall and the Royal Canal to the south, and was bounded by East Wall Road, Dublin to the north until land reclamation extended that part...

 to the north and Spencer Dock
Spencer Dock
Spencer Dock is a location within North Wall, Dublin, Ireland. The dockland area was originally part of the end of the Royal Canal, which still reaches the River Liffey here...

 to the east; the Custom House
The Custom House
The Custom House is a neoclassical 18th century building in Dublin, Ireland which houses the Department of the Environment, Heritage and Local Government...

, Busáras
Busáras
Busáras is the central bus station in Dublin, Ireland for intercity and regional bus services operated by Bus Éireann. Busáras is also a stop on the Red Line of the Luas system, just before the terminus at Dublin Connolly railway station. Áras Mhic Dhiarmada is the official name of the...

 and the city centre lie to the west.

Within the IFSC, the original development area lies west of Commons Street. East of Commons Street is the later IFSC II area, along North Wall Quay and Lower Mayor Street.

It is an integrated development located in the centre of the city which incorporates office accommodation, educational institutions, housing, restaurants and shopping facilities. It has expanded beyond its original site and has become a part of the wider Irish economy. The centre now houses financial institutions, together with a law firms and accountancy and taxation advisors who support them. At its heart is the National College of Ireland
National College of Ireland
National College of Ireland offers full and part-time courses from foundation to degree and postgraduate level. All courses are fully accredited and delivered from the IFSC campus and across a network of regional centres....

, which provides continuing education to the financial professionals who work there. This has boosted the availability of high value jobs building a wealth of financial services expertise among the Irish labour force.

There are currently more than 430 financial operations allowed to trade within the IFSC. According to the official website it is home to more than half of the worlds top 50 financial institutions including Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...

, Commerzbank
Commerzbank
Commerzbank AG is the second-largest bank in Germany, after Deutsche Bank, headquartered in Frankfurt am Main.-Activities:Commerzbank is mainly active in commercial bank, retail banking and mortgaging. It suffered reversals in investment banking in early 2000s and scaled back its Securities unit...

 and Sumitomo.
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