Following CIFCA’s participation in international engagements, including the Germany SB62 Climate Meetings (June 2025), the Secretariat proactively pursued strategic partnerships with global financial market infrastructures.
This resulted in a high-level engagement and official visit to the Luxembourg Stock Exchange (LuxSE)—home to the globally recognized Luxembourg Green Exchange, the world’s leading platform for sustainable, green, and Islamic securities.
The visit forms part of CIFCA’s mandate to:
- Position Tanzania within the global Islamic capital markets ecosystem
- Strengthen Shariah-compliant capital market development
- Support regulators and market players with international best practices
Key Objectives:
The engagement was guided by the following key objectives:
- Sukuk Listing and Market Development: to understand listing requirements, frameworks, and processes for sukuk on LuxSE; and benchmark global standards applicable to quasi-sovereign sukuk, including Zanzibar's ongoing initiatives.
- Knowledge Transfer and Capacity Building: To identify technical knowledge areas that CIFCA can transfer to Dar es Salaam Stock Exchange, Bank of Tanzania and other local financial institutions and advisors.
- Sustainable and Green Islamic Finance: To explore integration of Green Sukuk, Sustainability-linked Islamic instruments and aligning with global ESG and SDG frameworks.
- Strategic Partnerships: To establish a working relationship between CIFCA and LuxSE for technical cooperation, training and advisory collaboration, and future cross-fisting opportunities.
Key Output:
The Luxembourg engagement marks a strategic milestone in CIFCA's internationalization journey. It reinforces CIFCA's role as:
- A technical authority in Islamic finance;
- A strategic advisor to regulators and markets; and
- A bridge between Tanzania and global financial ecosystems
This visit not only advances the sukuk agenda in Tanzania but also aligns CIFCA with the future of Islamic finance where Shariah compliance, sustainability, and global integration converge.
