Islamic finance in Europe (91)

Continuation

2.4.5 LUXEMBOURG

Luxembourg is one of the major financial markets in Europe.

Its popularity is based on:

-      competitive pricing;

-      incentives;

-      and access to European clients.

Since 2002, Luxembourg became the first European country to list a sukuk.

There has been a total of 16 sukuk listed on the exchange.

Luxembourg is being promoted rather strongly by its government to attract more Islamic funds as well as foreign investments from:

-      oil-rich countries

-      and emerging wealthy nations.

From the research paper of European Central Bank

(Authors: F.Mauro, P.Caristi, S.Couderc, A.D.Maria, L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)