Paris Europlace (the Paris Financial Centre) said it welcomes sukuk issuers on NYSE Euronext and the setting up of Islamic banks in Paris.
“The regulations that have been recently adopted to facilitate Islamic finance in France are intended to make Paris a hub for Islamic finance and now we have all the tools to accommodate Islamic finance,” Arnaud de Bresson, Managing Director of Paris Europlace told a news conference here yesterday. He said Paris Europlace has exerted great efforts for the last three years to promote Islamic finance and the opportunities it has to offer and ultimately submitted proposals for reforms to develop Islamic Finance in France.
As a result, both the French Ministry of Economy, Industry and Employment and the Autorite des Marches Financiers (AMF), the French financial markets regulatory authority, announced late last year significant tax and regulatory changes aimed at boosting Islamic finance in France.
