LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF...

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LFF Islamic Finance website launch 03 January 2011 press clipping

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Page 1: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

LFF Islamic Finance website launch 03 January 2011

press clipping

Page 2: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

january 2011

press clippingIF website launch

TABLE OF CONTENTS

LUXEMBOURG PRESS:

Section Islamique

d’Lëtzeburger Land, 17/12/10

The Luxembourg financial centre now has a website dedicated to Islamic Finance

paperJam, 03/01/11

The Luxembourg financial centre now has a website dedicated to Islamic Finance

abbl.lu, 03/01/11

Islamic Finance website launch boosts Luxembourg’s financial centre

mymosaik.lu, 03/01/11

Objectif Finance Islamique

Le Quotidien, 04/01/11

La finance islamique doit trouver sa place

L’essentiel Online, 04/01/11

“Nous sommes bien positionnés sur l’assurance islamique”

paperJam, 04/01/11

Islamic Finance records for Luxembourg now available

352luxmag.lu, 05/01/11

INTERNATIONAL PRESS:

The Luxembourg financial centre now has a website dedicated to Islamic Finance

zawya, 03/01/11

Luxembourg launches Islamic Finance Guide

tax-news.com, 03/01/11

The Luxembourg financial centre now has a website dedicated to Islamic Finance

Islamic Financial Industry News Centre, 04/01/11

The Luxembourg financial centre now has a website dedicated to Islamic Finance

Opalesque, 05/01/11

Les responsables des banques centrales islamiques se trouvent à Luxembourg

financialislam.com, 05/01/11

Page 3: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger
Page 4: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

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COMMUNIQUE DE PRESSE | Luxembourg | Communiqué le 03.01.2011

LUXEMBOURG FOR FINANCE

The Luxembourg financial centre now has a websitededicated to Islamic finance

Jean-Jacques Picard (Luxembourgfor Finance)(Photo: Etienne Delorme/archives)

Luxembourg for Finance, the agency for the development of the Luxembourg financial centre, has enhanced itswebsite 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 viathe existing website www.luxembourgforfinance.lu.

Clients can use the site to do upstream research on their projects, identifying the best vehicles for particular shariahcompliant structures. They can also identify a wide range of services providers with experience in the sector. Aselection of brochures focusing on Islamic finance in Luxembourg can be downloaded from the website.

The launch of a dedicated website is just the latest step in a determined campaign to promote the development ofIslamic finance in Luxembourg. The Luxembourg Government, which policy is to diversify the financial centre,supports this campaign. Increasingly recognised as a leading Islamic finance centre, Luxembourg is the most popularEuropean domicile for shariah compliant investment funds and can rival any stock exchange in Europe for thenumber of sukuk issues listed.

The Luxembourg Central Bank is the first European central bank to become a member of the Islamic FinancialServices Board and is working actively to gain experience of supervisory practice in this area and identifyinginstruments, practicesand solutions for managing liquidity in a shariah compliant manner.

Luxembourg for Finance is currently participating in the World Islamic Banking Forum in Bahrain, where potentialIslamic finance clients can make contact with a large delegation of financial sector professionals from theLuxembourg financial centre.

Luxembourg for Finance

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Mercredi 05.01.2011 | 17:28 PAPERJAM.LU | MAGAZINE | JOBS | INDEX.LU | GRAND PRIX | BUSINESS CLUB

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Page 5: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

Published on ABBL (http://www.abbl.lu)

The Luxembourg financial centre now has a website dedicated toIslamic finance03/01/2011 -

Financial markets & services [1]

,

Partner news [2]

Luxembourg for Finance, the agency for the development of the Luxembourg financial centre, has enhanced its website by the addition of a sectiondedicated to shariah compliant products and services. The website, which is available in English and French, can be accessed onwww.islamicfinanceluxembourg.lu [3] or via the existing website www.luxembourgforfinance.lu [4].

Clients can use the site to do upstream research on their projects, identifying the best vehicles for particular shariah compliant structures. They canalso identify a wide range of services providers with experience in the sector. A selection of brochures focusing on Islamic finance in Luxembourg canbe downloaded from the website.

The launch of a dedicated website is just the latest step in a determined campaign to promote the development of Islamic finance in Luxembourg. TheLuxembourg Government, which policy is to diversify the financial centre, supports this campaign. Increasingly recognised as a leading Islamicfinance centre, Luxembourg is the most popular European domicile for shariah compliant investment funds and can rival any stock exchange inEurope for the number of sukuk issues listed.

The Luxembourg Central Bank is the first European central bank to become a member of the Islamic Financial Services Board and is working activelyto gain experience of supervisory practice in this area and identifying instruments, practice sand solutions for managing liquidity in a shariah compliantmanner.

Luxembourg for Finance is currently participating in the World Islamic Banking Forum in Bahrain, where potential Islamic finance clients can makecontact with a large delegation of financial sector professionals from the Luxembourg financial centre.

(Source: Luxembourg for Finance)

Financial markets & services ABBL Partners Partner news

Links:[1] http://www.abbl.lu/news-publications?tid=3[2] http://www.abbl.lu/news-publications/news-archive/partner-news-0[3] http://www.islamicfinanceluxembourg.lu[4] http://www.luxembourgforfinance.lu

The Luxembourg financial centre now has a website dedicated... http://www.abbl.lu/print/5407

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Islamic Finance Website Launch BoostsLuxembourg's Financial CentreMonday, 03 January 2011 20:04

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Luxembourg for Finance, the agency for the development ofthe Luxembourg financial centre, has enhanced its website bythe addition of a section dedicated to shariah compliantproducts and services.

The website, which is available in English and French, can be accessed on www.islamicfinanceluxembourg.lu or via the existingwebsite www.luxembourgforfinance.lu.

Clients can use the site to do upstream research on their projects, identifying the best vehicles for particular shariah compliantstructures. They can also identify a wide range of services providers with experience in the sector. A selection of brochuresfocusing on islamic finance in Luxembourg can be downloaded from the website. The launch of a dedicated website is just thelatest step in a determined campaign to promote the development of Islamic finance in Luxembourg.

The Luxembourg Government, which policy is to diversify the financial centre, supports this campaign. Increasingly recognisedas a leading Islamic finance centre, Luxembourg is the most popular European domicile for shariah compliant investment fundsand can rival any stock exchange in Europe for the number of sukuk issues listed. The Luxembourg Central Bank is the firstEuropean central bank to become a member of the Islamic Financial Services Board and is working actively to gain experienceof supervisory practice in this area and identifying instruments, practices and solutions for managing liquidity in a shariahcompliant manner.

Luxembourg for Finance is currently participating in the World Islamic Banking Forum in Bahrain, where potential Islamicfinance clients can make contact with a large delegation of financial sector professionals from the Luxembourg financial centre.

Last modified on Tuesday, 04 January 2011 10:46

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LUXEMBOURG - Les banques proposent déjà des produitsfinanciers dédiés aux investisseurs de religionmusulmane. 4 Commentaires

En novembre, les responsables des banques centrales islamiques se retrouveront à Luxembourg. Pas un hasard.

La finance islamique au Grand-Duché, «L'histoire remonte déjà à 1983», rappelleEleanor de Rosmorduc, chargée des relations publiques de l'agence Luxembourg forfinance (LFF). À cette date, la première société arabe d'assurance s'installait sur laPlace. En 2002, la Bourse de Luxembourg était la première en Occident à coter uneaction «fonctionnant» selon les critères de la charia.

Aujourd'hui, le Luxembourg est le deuxième pays non arabe en termes de gestion defonds privés d'investissement islamiques. «Mais au-delà des 500 millions d'eurosd'actifs actuels, les établissements pourraient collecter plus». D'où la page spécialesur le site web de LFF pour présenter aux convertis à l'islam habitant en Europe lespossibilités offertes ici. Sachant que Londres a déjà saisi cette chance depuislongtemps. «La finance islamique répond à des règles. Ce ne sont pas des religieuxqui veillent à leur respect mais bien des juristes», précise Eleanor de Rosmorduc.

Pas d'argent investi dans toute activité liée au jeu ou à l'alcool, ou aucun tauxd'intérêt avancé. «L'idée n'est pas d'attirer une banque de Dubai au Luxembourg,mais bien des fonds occidentaux et les gérer selon la gouvernance de la charia etdans le respect des lois de l'Union».

Patrick Jacquemot

BANQUES 04 janvier 2011 19:25; Act: 05.01.2011 08:04

L'essentiel Online - La finance islamique doit trouver sa place... http://www.lessentiel.lu/fr/news/economie/story/10441819

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Page 8: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

"LE QUOTIDIEN" du 04.01.2011 / page 6Secteur financier / Assurances / ServicesLuxembourg

1"Presse nationale" du 04.01.2011

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ARTICLE | Place financière | Interview par: Nicolas Raulot | Publié aujourd'hui

TROIS QUESTIONS À ELEANOR DE ROSMORDUC (LUXEMBOURG FOR FINANCE)

«Nous sommes bien positionnés sur l’assuranceislamique»Luxembourg For Finance (LFF) vient de lancer un site internet dédié à la finance islamique. Eleanor deRosmorduc, communication officer au sein de l’organisme de promotion de la place financière,explique que cette initiative s’inscrit dans une démarche de long terme. La place financière croitbeaucoup en ce secteur, grâce aux succès déjà remportés dans le domaine des fonds et des obligationsislamiques.

Eleanor de Rosmorduc (LFF): «Deuxsecteurs sont bien développés, lesfonds d’investissement et lesobligations islamiques».(Photo: Olivier Minaire/archives)

Madame de Rosmorduc, pourquoi lancer un site, ou en tout cas une section de votre site, dédié à la financeislamique?

«C’est une section, mais elle est très visible. On peut presque parler d’un site à part entière. Cela répond à unelogique de positionnement et de visibilité. Nous voulions montrer l’étendue de nos compétences dans ce domaine.Depuis deux ans, nous avons mis l’accent sur la promotion d’un secteur sur lequel le Luxembourg est en avance surla plupart des pays européens. Le Grand-Duché a été le premier à accueillir une compagnie d’assurance (Takaful)conforme à la charia, en 1983. Il a également été le premier à enregistrer la cotation en Bourse d’un sukuk (obligationislamique) en 2002.

Par la suite, le gouvernement a lancé une task force en 2008, avec l’idée de devenir une place de référence dans cedomaine. Et l’Alfi a lancé un groupe de travail à Dubaï. Nous nous sommes rendu compte assez rapidement quenotre cadre légal se prêtait très bien à ce genre d’affaires. La Banque centrale du Luxembourg a été la première d’unpays non islamique à devenir membre de l’IFSB (Islamic Financial Services Board), le bureau qui crée les normes etles best practices. La conférence annuelle de l’IFSB se tiendra d’ailleurs en mai au Luxembourg.

Ce positionnement n’est-il pas déjà bien connu des professionnels?

«Les gens identifient le Luxembourg comme un pays ‘open to business’, mais beaucoup cherchent à s’informer. Enassociant Luxembourg et finance islamique sur un moteur de recherche, ils seront directement renvoyés à notre siteofficiel. Cela leur permet d’effectuer leur travail de recherche en amont, d’avoir un bon aperçu des lois, du traitementfiscal des différents produits. Il y a de très nombreux musulmans en Europe, mais très peu de services financiers detype islamique. Ce n’est pas une banque établie à Bahreïn qui va les distribuer. Ils doivent donc se domicilier enEurope.

Quels sont les domaines les plus prometteurs au Luxembourg en matière de finance islamique?

«Pour l’instant, deux secteurs sont bien développés, les fonds d’investissement et les obligations islamiques. Nousrecensons entre 37 et 39 fonds islamiques au Grand-Duché. Cela représente environ 7% du marché mondial. Sur lessukuk, nous sommes aussi bien placés que Londres, avec environ 15 obligations. Mais le secteur pour lequel nousenvisageons la croissance la plus forte dans le futur, c’est l’assurance islamique. C’est là où nous voyons le plusgrand avenir et nous sommes bien positionnés, en tant que pays, dans ce domaine.»

www.islamicfinanceluxembourg.lu

Eleanor De Rosmorduc

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Mercredi 05.01.2011 | 17:28 PAPERJAM.LU | MAGAZINE | JOBS | INDEX.LU | GRAND PRIX | BUSINESS CLUB

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Islamic finance records for Luxembourg now available - on 3... http://www.352luxmag.lu/index.php?p=edito&id=14582

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Published on 05/01/2011 by Associated Press / Stephen Lowe | Read 194 times.

The agency responsible for the development of Luxembourg's financial centre, Luxembourg for Finance (LFF),has enhanced its website content by adding a section dedicated to shariah-compliant products and services.

The website, which is available both in English and French, can be accessed through the agency's existing portalwww.lff.lu.

In a statement released earlier this week, the LFF said: “The launch of a dedicated website is just the latest stepin a determined campaign to promote the development of Islamic finance in Luxembourg. The Luxembourggovernment is committed to diversifying its financial centre, and supports this campaign.”

“Increasingly recognized as a leading Islamic finance centre, Luxembourg is the most popular Europeandomicile for shariah-compliant investment funds and can rival any stock exchange in Europe for the number ofsukuk issues listed.”

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Printable view

Wed, Jan 05, 2011, 16:26 GMT

The Luxembourg financial centre now has a websitededicated 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 ofa 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 existingwebsite 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 Islamicfinance in Luxembourg can be downloaded from the website.

The launch of a dedicated website is just the latest step in a determined campaign to promote the development of Islamic finance inLuxembourg. The Luxembourg Government, which policy is to diversify the financial centre, supports this campaign. Increasinglyrecognised as a leading Islamic finance center, Luxembourg is the most popular European domicile for shariah compliant investmentfunds and can rival any stock exchange in Europe for the number of sukuk issues listed.

The Luxembourg Central Bank is the first European central bank to become a member of the Islamic Financial Services Board and isworking actively to gain experience of supervisory practice in this area and identifying instruments, practices and solutions for managingliquidity in a shariah compliant manner.

Luxembourg for Finance is currently participating in the World Islamic Banking Forum in Bahrain,where potential Islamic finance clientscan make contact with a large delegation of financial sector professionals from the Luxembourg financial center.

-Ends-

Luxembourg for FinanceLuxembourg for Finance (LFF) is a public private partnership between the Luxembourg Government and the Luxembourg FinancialIndustry Federation (PROFIL).

Its role is to contribute to the sustainable development of Luxembourg as an international financial center by means of a structuredinternational 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 thedevelopment of an integrated and sustainable European financial market place.

LuxembourgLocated in the heart of Europe between Belgium, France and Germany, Luxembourg is one of the smallest countries in Europe.Grantedindependence 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 Luxembourgwas a founding member of the European Economic Community,which later became the European Union,and is part of all majorinternational institutions.

The country's traditional openness to the outside world, its political and social stability,its cosmopolitan and multilingual population,itshighly qualified work force and modern infrastructure make Luxembourg the ideal gateway to the European market with its 500 millionconsumers. 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 adaptedto an evolving international environment. Luxembourg has been active in Islamic finance since 1978, when the first Islamic financeinstitution in a western country was established in the Grand Duchy.In1983,the first shariah compliant insurance company in Europe wasestablished in Luxembourg and in 2002 Luxembourg was the first European stock exchange to list a sukuk.

The Luxembourg financial centre now has a website dedicated... http://www.zawya.com/printstory.cfm?storyid=ZAWYA2011...

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Luxembourg for FinanceLuxembourg for Finance (LFF) is a public private partnership between the Luxembourg Government and the Luxembourg FinancialIndustry Federation(PROFIL).

Its role is to contribute to the sustainable development of Luxembourg as an international financial center by means of a structuredinternational 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 thedevelopment of an integrated and sustainable European financial market place.

Contact person at LFF : Eleanor de Rosmorduc ([email protected]).

© Press Release 2011Article originally published by Press Release 03-Jan-11

Copyright © 2011 ABQ Zawya Ltd. All rights reserved. Please read our User Agreement

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Luxembourg Launches Islamic Finance Guide, by PhillipMorton, Investors Offshore.comMonday, January 03, 2011

Luxembourg for Finance – the agency with responsibility for the development ofLuxembourg's financial centre – has enhanced its website through the addition of asection dedicated to shariah-compliant products and services.

The website, which is available both in English and French, can be accessed throughthe agency's existing website.

Among the site's new offerings, Luxembourg for Finance has provided researchmaterials, and information on the various shariah-compliant structures available. Thewebsite also details service providers with particular experience in the sector.

Announcing its latest initiative, Luxembourg for Finance, said in a statement onJanuary 3:

“The launch of a dedicated website is just the latest step in a determined campaignto promote the development of Islamic finance in Luxembourg. The Luxembourggovernment is committed to diversifying its financial centre, and supports thiscampaign.”

“Increasingly recognized as a leading Islamic finance centre, Luxembourg is the mostpopular European domicile for shariah-compliant investment funds and can rival anystock exchange in Europe for the number of sukuk issues listed.”

“The Luxembourg Central Bank is the first European central bank to become amember of the Islamic Financial Services Board and is working actively to gainexperience of supervisory practice in this area and identifying instruments, practicesand solutions for managing liquidity in a shariah-compliant manner.”

“[To further promote our jurisdiction], Luxembourg for Finance is currentlyparticipating in the World Islamic Banking Forum in Bahrain, where potential Islamicfinance clients can make contact with a large delegation of financial sectorprofessionals from the Luxembourg financial centre.”

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Luxembourg Launches Islamic Finance Guide http://www.tax-news.com/news/Luxembourg_Launches_Isla...

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04/01/2011The Luxembourg financial centre now has a website dedicated to Islamic finance

Luxembourg for Finance, the agency for the development of

he Luxembourg financial center, has enhanced its website by

he addition of a section dedicated to shariah compliant

roducts and services.

bourg for Finance, the agency for the development of the Luxembourg financial center, has enhanced its website by theon of a section dedicated to shariah compliant products and services.

ebsite,which is available in English and French, can be accessed on www.islamicfinanceluxembourg.lu or via theg website www.luxembourgforfinance.lu.

can use the site to do upstream research on their projects, identifying the best vehicles for particular shariahiant structures.

an also identify a wide range of services providers with experience in the sector. A selection of brochures focusing onic finance in Luxembourg can be downloaded from the website.

unch of a dedicated website is just the latest step in a determined campaign to promote the development of Islamice in Luxembourg. The Luxembourg Government, which policy is to diversify the financial centre, supports thisign. Increasingly recognised as a leading Islamic finance center, Luxembourg is the most popular European domicile forh compliant investment funds and can rival any stock exchange in Europe for the number of sukuk issues listed.

xembourg Central Bank is the first European central bank to become a member of the Islamic Financial Services Board working actively to gain experience of supervisory practice in this area and identifying instruments, practices andons for managing liquidity in a shariah compliant manner.

bourg for Finance is currently participating in the World Islamic Banking Forum in Bahrain,where potential Islamice clients can make contact with a large delegation of financial sector professionals from the Luxembourg financial

All Rights Reserved for General Council For Islamic Banks and Financial Institution

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The Luxembourg financial centre now has a websitededicated to Islamic finance

Posted on 04 January 2011

From Zawya.com: Luxembourg for Finance, the agency for the development of theLuxembourg financial center, has enhanced its website by the addition of a sectiondedicated to shariah compliant products and services.The website,which is available in English and French, can be accessed onwww.islamicfinanceluxembourg.lu or via the existing websitewww.luxembourgforfinance.lu ………………………………………Full Article: Source

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Opalesque Islamic Finance Briefing | The Luxembourg financi... http://www.opalesque.com/IslamicFinance_Briefing/?p=10389

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Page 17: LFF Islamic Finance website launch - Luxembourg for finance · january 2011 press clipping IF website launch TABLE OF CONTENTS LUXEMBOURG PRESS: Section Islamique d’Lëtzeburger

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les responsables des banques centrales Islamiques se retrouverontà Luxembourg

La finance islamique auGrand-Duché, «L'histoireremonte déjà à 1983»,rappelle Eleanor deRosmorduc, chargée desrelations publiques del'agence Luxembourg forfinance (LFF). À cette date,la première société arabed'assurance s'installait sur

la Place. En 2002, la Bourse de Luxembourg était la première enOccident à coter une action «fonctionnant» selon les critères de lacharia.

Aujourd'hui, le Luxembourg est le deuxième pays non arabe en termesde gestion de fonds privés d'investissement islamiques. «Mais au-delàdes 500 millions d'euros d'actifs actuels, les établissements pourraientcollecter plus». D'où la page spéciale sur le site web de LFF pourprésenter aux convertis à l'islam habitant en Europe les possibilitésoffertes ici. Sachant que Londres a déjà saisi cette chance depuislongtemps. «La finance islamique répond à des règles. Ce ne sont pasdes religieux qui veillent à leur respect mais bien des juristes», préciseEleanor de Rosmorduc.

Pas d'argent investi dans toute activité liée au jeu ou à l'alcool, ouaucun taux d'intérêt avancé. «L'idée n'est pas d'attirer une banque deDubai au Luxembourg, mais bien des fonds occidentaux et les gérerselon la gouvernance de la charia et dans le respect des lois de l'Union».

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