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ARTICLE · 04 OCTOBER 2021

A Global Hub For Islamic Finance

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In this Country Correspondent Report for Islamic Finance News ("IFN"), Manuela Belmontes and Julia Journée discuss how Luxembourg is leading Islamic Finance in the European Union and continues to be an attractive hub for Islamic investment funds and Shariah compliant investment vehicles.

LuxembourgFinance and Banking
Manuela Belmontes
Manuela Belmontes
Julia Journée
Julia Journée
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The Grand Duchy of Luxembourg benefits from a long history in Islamic finance when in 1978 Luxembourg became the first country in Europe to license an Islamic financial institution. Since then, all required legal, tax and regulatory structures have been put in place to enable Luxembourg to become a major European hub for Islamic finance and to position itself as the key center of choice for Shariah compliant investment funds in Europe.

Leading Islamic fund center in the EU

Luxembourg offers a large variety of attractive fund structures for Shariah compliant investment vehicles. For that reason, it has become the world's leading non-Muslim domicile for Islamic investment funds with more than 49 Shariah funds.

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