A delegation of Indian Centre for Islamic Finance (ICIF) met His Excellency Ambassador of Luxembourg Mr. Gaston Stronck who appreciated the works of ICIF and was introduced through its website. The delegation consisted of Mr.H Abdur Raqeeb, General Secretary of ICIF, Mr. Khurshid Najmi, Former legal advisor of RBI and two other staff members of ICIF- Mr. Ali Jasim and Mr. Thalha Hussain.
The ambassador briefed about Luxembourg. “Luxembourg is the one of the most sought after investment destinations of the world. It is the number one wealth management centre in Eurozone having an investment of 2400 billion Euros approximately. Many of the big Indian players have made their presence there. With respect to Islamic Finance, Luxembourg is the number one among the non Islamic countries offering Islamic financial products. Its flexible legislative framework can easily accommodate sharia compliant products. Its also geographically well located and have competitive tax schemes.
Mr. Gaston Stronck furnished the delegation with information regarding history culture and language of Luxembourg and provided some books on the same