LUXEMBOURG - IFSB’s debut summit in Europe attracts widespread interest

This year’s 8th annual summit of the Islamic Financial Services Board (IFSB), scheduled to be held at the New Conference Centre Kirchberg in Luxembourg on May 10-13, is already making an impact.

The summit, hosted by the Banque Centrale de Luxembourg, is attracting particular interest from the European Union in addition to the traditional markets in the Middle East and Asia.

The summit indeed will be held for the first time in a EU country and Luxembourg is threatening to overtake the UK and France in spearheading Islamic finance in Europe. (full story)

GERMANY - An Overview of Islamic Finance in Germany

Posted on March 4, 2011 by Rebecca Schönenbach 

In a few days, the German Federal Financial Supervisory Authority, BaFin will send two representatives on an Islamic finance congress. Dr. Johannes Engels, senior advisor and Robert Elsen, deputy head of the section for technical co-operation, will both contribute to the World Islamic Finance Conference held this year in London, March 28/29. The conference, organised by Fleming Gulf, features such prominent figures of the Islamic finance world as Sheikh Nizam Yaquby, Sharia scholar from Bahrain who is a member of more than 80 Sharia-boards advising Islamic financial institutions and is considered to be one of the top ten leading Sharia-scholars in the world. The World Islamic Finance Conference is set up to be an opportunity to forge closer ties between the European Islamic finance industries with its partners in Islamic countries. The conference is not the first effort undertaken by the BaFin to jump start Islamic Banking in Germany. (full story)

SWITZERLAND - Zurich Financial eyes bolt-on buys in emerging markets

Takaful industry seen growing 15 pct annually for 5 yrs - Says takaful key to Zurich's growth in Mideast
 DUBAI, Oct 27 (Reuters) - Swiss insurer Zurich Financial Services AG (ZURN.VX) will continue to eye bolt-on acquisitions in emerging markets and sees Islamic insurance, or takaful, as key to growing its Middle Eastern business, a senior executive said.