Sunday 25 September 2016

Islamic finance on bank's €475k training bill for taxpayer

Gordon Deegan

Published 04/07/2015 | 02:30

Finance Minister Michael Noonan
Finance Minister Michael Noonan

The taxpayer is picking up the €475,056 tab for Central Bank staff who took courses about white collar crime, anti-money laundering and Islamic finance.

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The Minister for Finance, Michael Noonan, has confirmed a €1.7m bill to the taxpayer after officials at the Department of Finance, the Central Bank and Revenue took courses and training last year. Out of the 172 pursuing qualifications in courses funded by the Central Bank, only one was seeking a qualification in combating white crime with only one other sitting an anti-money laundering course.

The information was provided in a Dail response to Fianna Fail Finance spokesman Michael McGrath. He said yesterday that he would "support more resources being given to allow Central Bank staff to undertake specialist external courses in areas such as white collar financial crime prevention and detection".

Mr Noonan said the bill for staff at his Department who have completed courses in the current academic year totals €242,347 with an additional €27,782 spent on leadership/management programmes. He confirmed that the Revenue Commissioners' bill for staff taking courses totals €950,000 and this included a bill of €812,300 from the University of Limerick (UL) for 287 Revenue Employees taking a diploma in applied taxation and BA (Hons) in Applied Taxation.

Mr Noonan said his Department "continues to invest in staff development in order to supplement the skills and qualifications of our teams, through a combination of internal and external training, learning and development".

Irish Independent

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