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Financing or investment transactions and, more generally, financial activities, pursued in accordance with Shari'ah principles (as derived from the Qu'ran and the Sunnah) perfectly match the Luxembourg framework. Islamic finance has been one of the driving forces of the development of Luxembourg for a long time. Indeed, as early as in 1983, Luxembourg became the domicile of the first Shari'ah-compliant insurance company in Europe. The Luxembourg Stock Exchange played a leading role as the first European Stock exchange to enter the sukuk market in 2002. Luxembourg has a long experience in the Islamic finance field and there is a clear and strong willingness from market participants and authorities to further support the development of this activity. (Source: Arendt & Medernach)
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