Luxembourg

Islamic Finance 

Despite the economic turmoil of the latest financial crisis, the Islamic Finance industry recorded significant annual growth since 2007 and is still forecast to grow. In addition to a growing Muslim population in the world, IF is gaining wider recognition as an ethical alternative to the conventional financial system. The Luxembourg Government is openly concentrating efforts to promote the development of Islamic finance, testifying to its strong commitment to become a prime location for Islamic finance.

Contact

Philippe Neefs

Philippe Neefs

Partner tax

Tel. +352 22 51 51 5531

philippe.neefs@kpmg.lu

 

Philippe Neefs

Alain Picquet

Partner advisory

Tel. +352 22 51 51 7910

alain.picquet@kpmg.lu

 

Lutfije Aktan

Lutfije Aktan

Director audit

Tel. +352 22 51 51 6609

lutfije.aktan@kpmg.lu

In order to respond to the needs of our clients and to better serve this emerging market, we have set up a multi-disciplinary team of specialists.

 

Our services

 

  • Auditing services
  • Fund and company sep-up and structuring (including microfinance)
  • Shariah-compliant product structuring
  • Shariah advisory services
  • Tax advice
  • Assistance in the selection of Islamic finance IT systems

 

Our experience

 

  • We audit 50% (in terms of assets) of regulated Sharia-compliant funds in Luxembourg
  • We regularly provide advice in relation to the design and implementation of Sharia-compliant Luxembourg holding structures
  • We frequently implement securitisation vehicles, bearing massive opportunities amid the current economic downturn, combining an exceedingly low level of effective taxation, and free of major regulatory restriction
  • Our in-house Islamic finance practice has recently assisted in the Sharia-compliant acquisition of real estate via Luxembourg real estate companies
  • Our experience includes advisory services relating to the implementation of Sharia-compliant equity and fixed income equivalent investment funds in Luxembourg. We provided advice to clients on the eligibility of various fixed income equivalent Islamic financial instruments with the UCITS eligible assets regulations.

 

How we may help

 

As Islamic finance continues its expansion and diversification, our dedicated multidisciplinary team of professionals would be happy to assist you in structuring Islamic investments and advising on all Luxembourg aspects of Sharia-compliant structures.

 

We provide all-encompassing packages with trustworthy Luxembourg law firms and trusted companies.

Get in touch with KPMG

Luxembourg : A hub for Islamic finance investments

Islamic Finance: from niche to mainstream