Ethics and governance in the European Financial centers

Everyone in Luxembourg is particularly exited about making money with Islamic Finance.

As I wrote this may be a new cheese for the jurisdiction.

PwC Luxembourg, the audit leader in Luxembourg, has just published a press release about the opportunity.

But there is a critical issue that they probably ignored.

What would do Luxembourg if another jurisdiction (the USA for example) would require the freezing of accounts of persons suspected of terrorism and/or the communication of data relating to their accounts, whereas a terrorist organisation would threaten Luxembourg?