Luxembourg to issue a sovereign sukuk?

Luxembourg to issue a sovereign sukuk?

In mid-December 2013, a new draft bill has been submitted to the Luxembourg parliament reflecting Luxembourg's intention to become the first non-Muslim country issuing a sovereign sukuk.

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This article depicts the fundamental elements of sukuk, outlines how Luxembourg's sovereign sukuk will be structured and analyses Luxembourg's role as a hub for structuring Islamic finance investments in and through Europe.

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