A major European financial centre

Luxembourg financial centre is not only the largest investment fund and captive reinsurance centre in Europe but also the largest private banking centre in the Eurozone. The Luxembourg financial center is characterised by a strong culture of investor protection and rigorous anti money-laundering policies, underpinned by a competent and proactive supervisory authority, the CSSF. The financial sector is one of the main employers in Luxembourg.

Facts about Luxembourg

Luxembourg, officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the north as part of the Ardennes massif, and the Gutland (“good country”) in the south. Luxembourg has a population of 626,108 (as of 2019) in an area of 2,586 square kilometres (998 sq mi). It is one of the least-populous countries in Europe, but by far the one with the highest population growth rate.

As a representative democracy with a constitutional monarch, it is headed by a grand duke and is the world’s only remaining grand duchy. Luxembourg is a developed country, with an advanced economy and the world’s highest GDP (PPP) per capita, according to the World Bank. Its historic and strategic importance dates back to its founding as a Roman era fortressand Frankish count’s castle site in the Early Middle Ages. It was an important bastion along the Spanish Road when Spain was the principal European power influencing the wholewestern hemisphere and beyond in the 16th–17th centuries.

luxembourg-mapLuxembourg is a member of the European Union, NATO, OECD, the United Nations, and Benelux, reflecting the political consensus in favour of economic, political, and military integration. The city of Luxembourg, the largest and capital city, is the seat of several institutions and agencies of the EU. On 18 October 2012, Luxembourg was elected to a temporary seat on the United Nations Security Council, for the first time in its history. The country served on the Security Council from 1 January 2013 until 31 December 2014.

Reflecting its geographic position, Luxembourg’s culture is a fusion of Romance and Germanic Europe, borrowing customs from each of the distinct traditions. Luxembourg is a trilingualcountry: Luxembourgish, French and German are official languages. Although a secular state, Luxembourg is predominantly Roman Catholic.

Source: Wikipedia