Specific Fund Categories

Shariah-Compliant Funds in Luxembourg

Islamic finance strategies in Luxembourg’s established fund regimes.

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No special law needed

Luxembourg’s existing fund regimes can host Shariah-compliant strategies. UCITS suit international distribution to retail and institutional investors; SIFs, RAIFs and SICARs suit private equity, real estate and other alternative strategies.

Governance and tax

In practice, the fund documentation sets out the role of the Shariah board. The Luxembourg direct tax administration has published a circular on the tax treatment of Islamic finance (12 January 2010).