SHARIA BANKING
LUXEMBOURG

LUXEMBOURG SHARIA BANKING LUXEMBOURG ISLAMIC BANKING FINANCE


LUXEMBOURG ISLAMIC BANK MURABAHA MUDARABA

In Luxembourg, sharia-compliant banking currently accounts for a marginal share of the Luxembourger financial sector. Recent estimates expect that Islamic financial assets in Luxembourg could reach more soon.

Luxembourg is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Luxembourg's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.

Currently, Luxembourg has a limited number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.