Luxembourg

1
Luxembourgs Role in Building a Sustainable
Islamic Investment Hub in Europe
Pierre Oberlé ALFI
2
First driver international expansion of Islamic
Funds

• UCITS Undertakings for Collective Investment in
  Transferable Securities
• Are a set of European Union Directives that aim
  to allow collective investment schemes to operate
  freely throughout the EU on the basis of a single
  authorization from one member state (distribution
  passport)
• Fund managers from more than 50 countries use
  Luxembourg as a hub to sell UCITS funds in 70
  countries around the world
• UCITS are well adapted for Shariah compliant
  investments

3
Evolution of cross-border UCITS fund distribution
3
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Second driver regulated European alternative
funds and investor demand for transparency

• Redomicilation of funds to onshore European
  domiciles
• AIMFD (Alternative Investment Fund Managers
  Directive)
• New opportunites for Shariah compliant Real
  Estate and Private Equity funds
• New distribution passport easy to reach
  institutional investors in the whole European
  Union

5

Third driver developments at the institutional
level

• Full support of the authorities and of the
  financial sector players
• 2008 Government Taskforce launched
• 2008 ALFI Islamic Finance Working Group launched
• 2012 Publication of ALFI Collection of Best
  Practices for setting-up and administering
  Shariah-compliant funds in Luxembourg

6

• Thank you

Pierre Oberlé Business Development
Manager pierre.oberle_at_alfi.lu Tel [phone]
26 1 www.alfi.lu