(source :
UAE Laws and Islamic Finance - Posted on February 2, 2011 by Camille Paldi)
Well connected with GCC states
“While many European countries are reviewing their domestic legislation to become more attractive for Islamic finance, Luxembourg has already established itself as an important hub for the industry. This should come as no surprise to those who know Luxembourg and the strong position it has attained. This small European country has become an internationally recognized financial market. It is viewed as the premier captive reinsurance market in the European Union (EU), the premier private banking centre in the euro zone and the second largest investment fund centre in the world after the USA.
