The Grand Duchy of Luxembourg is keen to become a major European hub for Islamic finance and to position itself as a centre of choice for Sharia compliant Investment Funds. The Luxembourg Stock Exchange was the first European Stock Exchange to list sukuk in 2002, the first European Takaful insurance company was created in 1983 in Luxembourg, 30 to 40 Sharia compliant funds are registered on the Luxembourg official list of UCITS and several Sharia-compliant SIF have been launched under Luxembourg law. This reflects the ever-increasing role that Luxembourg will play in this area.
Our Islamic Finance practice advises clients who wish to invest in accordance with Sharia principles. Amongst our clients, we advise both Islamic and conventional banking and financial institutions, as well as corporate entities and high-net worth individuals.
We are continuously investing in our Islamic Finance department and our team, headed by Samia Rabia, possesses experience of providing Sharia advice on a range of products and issues, including:
- Setting up of Sharia compliant funds and of investment vehicles,
- Structuration of Islamic Finance transactions,
- Setting-up of regulated entities (ie. Islamic banks, takaful and retakaful companies),
- Listing of sukuk.
As conventional finance, Islamic finance benefits from Luxembourg’s unique tax advantages and efficiency for investment vehicles. The Grand-Duchy’s legal and regulatory framework offers a wide choice of tailor-made products that meet the needs of the different investment markets and the requirements of Islamic Finance.
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