Luxembourg is recognised as one of the leading European centres for Islamic finance with a long track record in the sector. It hosted the first Islamic finance institution more than 30 years ago and was the first European stock exchange to list a sukuk in 2002.
Two years ago, the Government set up a task force, charged with identifying obstacles to the development of Islamic finance. The group reported back favourably. Where shariah compliant investment is concerned, Luxembourg can offer a range of vehicles that address the specific needs of both investors and promoters.
Today, Luxembourg is the leading non-Muslim domicile for shariah compliant investment funds and can rival any stock exchange in Europe for the number of sukuk issues listed.