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Development of Islamic Finance in Europe
Created by
Ania Esquivel
Description
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Updated
23 Sep 2017
Timelines by
Ania Esquivel
:
9 days ago
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Events
UK opens first Islamic retail bank
Luxembourg opens first family-owned Islamic insurance operator
Germany issues its first Islamic bond
French government makes amendments to laws in order to facilitate sukuk issuances
France introduces first Islamic deposit scheme through an Islamic window in a conventional bank
France introduced its first Islamic home finance product
Germany's Federal Financial Supervisory Authority (BaFin) accepted a request from a foreign institution to conduct banking operations within the country in accordance with Islamic principles
Luxembourg becomes the first EU jurisdiction to adopt Undertakings for the Collective Investment of Transferable Securities IV
Central Bank of Luxembourg becomes the first EU Central Bank to become a member of the Islamic Financial Services Board
Major German bank launches trading platform in Luxembourg to facilitate for issuance of Islamic securities
London Metal Exchange provides first Shari'ah-compliant overnight deposit facilities based on murabahah principle
First corporate sukuk in Europe/UK
UK Government establishes its first Islamic Finance Task Force
UK's Chancellor of the Exchequer abolishes the double taxation, affecting Islamic mortgages
The first Islamic Bank is licensed by the Financial Services Authority, the Islamic Bank of Britain
First Islamic investment bank is licensed by the Financial Services Authority, the European Islamic Investment Bank
