On July 2014, the Luxembourg Parliament approved draft law 6631 on a sale and buy-back transaction of real estate assets necessary to issue an Islamic finance bond.
A statement from the Luxembourg Ministry of Finance said, “This approval in Parliament underlines the political will to diversify and develop alternative markets within the financial services industry and to consolidate the Grand-Duchy as an integrative and diversified world class financial services hub.”
Originally published on http://www.cpifinancial.net/
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Hafiz Maqsood Ahmed is the Editor-in-Chief of The Halal Times, with over 30 years of experience in journalism. Specializing in the Islamic economy, his insightful analyses shape discourse in the global Halal economy.
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