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Wednesday, 17th April 2024
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Taoiseach’s committees to be restructured Back  
The IFSC Clearing House Group, which operates under the aegis of the Department of the Taoiseach, is to be restructured at the urging of the Taoiseach, Bertie Ahern.
In a speech given by the Taoiseach at the annual Financial Services Ireland (which used to be known as the Financial Services Industry Association) dinner, he said that restructuring the Group is both ‘important and urgent and we need to renew our efforts accordingly’.
The Group is made up of three sub-committees, namely insurance, funds and banking and treasury, and membership is made up of both Government and industry. The Taoiseach called the Group, ‘one of the earliest and most successful forms of public-private partnership,’ and suggested that the partnership arrangement be renewed by both Government and industry working together, to identify five key objectives to advance jobs and business for international financial services in Ireland.
According to Dermot McCarthy, chairman of the Group, the aim of the initiative is to make the partnership that has worked so well in the past between industry and Government continue to be as effective and as efficient as possible, and to avoid over-duplication of functions between the many IFSC industry groups that now exist.
The Group’s aim is to identify and consider issues of major concern to the long-term development of the Centre, including the strategic development of new business areas, the progress of relevant legislation and the physical development of the Dublin docklands area. It was established at the time of the birth of the IFSC in 1987.

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