Development of Islamic Finance in Europe
Category: Other
Updated: 23 Sep 2017
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Created byAnia Esquivel
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Events
UK opens first Islamic retail bankLuxembourg opens first family-owned Islamic insurance operatorGermany issues its first Islamic bondFrench government makes amendments to laws in order to facilitate sukuk issuancesFrance introduces first Islamic deposit scheme through an Islamic window in a conventional bankFrance introduced its first Islamic home finance productGermany's Federal Financial Supervisory Authority (BaFin) accepted a request from a foreign institution to conduct banking operations within the country in accordance with Islamic principlesLuxembourg becomes the first EU jurisdiction to adopt Undertakings for the Collective Investment of Transferable Securities IVCentral Bank of Luxembourg becomes the first EU Central Bank to become a member of the Islamic Financial Services BoardMajor German bank launches trading platform in Luxembourg to facilitate for issuance of Islamic securitiesLondon Metal Exchange provides first Shari'ah-compliant overnight deposit facilities based on murabahah principleFirst corporate sukuk in Europe/UKUK Government establishes its first Islamic Finance Task ForceUK's Chancellor of the Exchequer abolishes the double taxation, affecting Islamic mortgagesThe first Islamic Bank is licensed by the Financial Services Authority, the Islamic Bank of BritainFirst Islamic investment bank is licensed by the Financial Services Authority, the European Islamic Investment Bank
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