Jan 03 2011 |
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The Luxembourg financial centre now has a website dedicated to Islamic finance
03 January 2011Luxembourg for Finance, the agency for the development of the Luxembourg financial center, has enhanced its website by the addition of a section dedicated to shariah compliant products and services.
The website,which is available in English and French, can be accessed on www.islamicfinanceluxembourg.lu or via the existing website www.luxembourgforfinance.lu.
Clients can use the site to do upstream research on their projects, identifying the best vehicles for particular shariah compliant structures.
They can also identify a wide range of services providers with experience in the sector. A selection of brochures focusing on Islamic finance in Luxembourg can be downloaded from the website.
The Luxembourg Central Bank is the first European central bank to become a member of the Islamic Financial Services Board and is working actively to gain experience of supervisory practice in this area and identifying instruments, practices and solutions for managing liquidity in a shariah compliant manner.
-Ends-
Luxembourg for Finance
Luxembourg for Finance (LFF) is a public private partnership between the Luxembourg Government and the Luxembourg Financial Industry Federation (PROFIL).
Its role is to contribute to the sustainable development of Luxembourg as an international financial center by means of a structured international communications policy and by nurturing new business sectors.
Combining the innovative spirit of the industry and the far sightedness of the country's political leaders, LFF is committed to the development of an integrated and sustainable European financial market place.
Luxembourg
Located in the heart of Europe between Belgium, France and Germany, Luxembourg is one of the smallest countries in Europe.Granted independence in 1839,the Grand Duchy is a constitutional monarchy.
On account of its size,Luxembourg has always striven to integrate itself into larger political and economic organisations.Thus Luxembourg was a founding member of the European Economic Community,which later became the European Union,and is part of all major international institutions.
The country's traditional openness to the outside world, its political and social stability,its cosmopolitan and multilingual population,its highly qualified work force and modern infrastructure make Luxembourg the ideal gateway to the European market with its 500 million consumers. It is the acknowledged European leader in the cross border distribution of financial products and services.
The Luxembourg financial center benefits from a legal and regulatory frame work that is reliable and flexible enough to be rapidly adapted to an evolving international environment. Luxembourg has been active in Islamic finance since 1978, when the first Islamic finance institution in a western country was established in the Grand Duchy.In1983,the first shariah compliant insurance company in Europe was established in Luxembourg and in 2002 Luxembourg was the first European stock exchange to list a sukuk.
Luxembourg for Finance
Luxembourg for Finance (LFF) is a public private partnership between the Luxembourg Government and the Luxembourg Financial Industry Federation(PROFIL).
Its role is to contribute to the sustainable development of Luxembourg as an international financial center by means of a structured international communications policy and by nurturing new business sectors.
Combining the innovative spirit of the industry and the far sightedness of the country's political leaders, LFF is committed to the development of an integrated and sustainable European financial market place.
Contact person at LFF : Eleanor de Rosmorduc (eleanor.derosmorduc@lff.lu).
© Press Release 2011
© Copyright Zawya. All Rights Reserved.
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