LUXEMBOURG - Qatar, Luxembourg strengthen cooperation

www.theasset.com - The Qatar Financial Centre (QFC) Authority and Luxembourg for Finance are exploring how to further advance their partnership for financial services.

 

They recently completed a seminar which followed the signing of a memorandum of understanding (MOU) between QFC Authority and Luxembourg for Finance last year, to promote cooperation between the two countries in financial services.  Among the topics discussed at the seminar were financial services opportunities in Qatar and the role of Luxembourg as an international hub for financial services in Europe. Luxembourg for Finance is the agency for the development of Luxembourg as a financial centre. (source)

LUXEMBOURG - Luxembourg boosts its role as Islamic finance centre

gulf-times.com - Qatar made a splash in Luxembourg yesterday with deals to buy two banks in a sign of the State’s desire to make the Grand Duchy an Islamic financial centre in Europe.

Hours after the French and Belgian governments announced the break-up of the Dexia banking group, Luxembourg announced that Qatar had decided to buy the troubled lender’s unit in the country, Dexia BIL. 

Moments earlier, the Belgian bank KBC revealed that it was selling its Luxembourg unit, KBL, to the Qatari state investment fund Precision Capital for €1.05bn ($1.41bn).   (source)