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For the first time Luxembourg has taken part in the annual IFSB summit as a member and sponsor of the event. The programme for members included a Public Hearing of the IFSB Exposure Draft on setting a standard on solvency requirements for takaful (Islamic insurance) undertakings. Luxembourg also conducted a Country Showcase, providing fellow members and other guests with the opportunity to ask questions relating to the Grand Duchy, which resulted in a lively and extended Q&A session.
The Islamic Financial Services Board (IFSB)
The IFSB was set up in 2002 to serve as an international standard setting body for regulatory and supervisory agencies that have a vested interest in ensuring the soundness and stability of the Islamic financial services industry. It...
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