Pierre Gramegna, Minister of Finance; Nasir Zubairi, CEO of LHoFT; Martine Schommer, Ambassador of Luxembourg in France, with Luxembourg FinTechs at the LHoFT booth at the Paris FinTech Forum; Credit: MFIN

On Wednesday 30 January 2019, Luxembourg's Minister of Finance, Pierre Gramegna, attend the fourth edition of the "Paris FinTech Forum" in France.

This annual meeting of FinTech's actors allowed circa thirty young companies from Luxembourg as well as established companies, most of which are based at the Luxembourg House of Financial Technologies (LHoFT), to present their latest innovations, to exchange with their European partners and to confirm their growing reputation. Luxembourg FinTech Koosmik, specialising in financial inclusion, won the Special Jury Award at the Paris Fintech Forum.

Minister Gramegna spoke alongside the French, Belgian and Lithuanian finance ministers at the closing round table entitled "What Europe for digital finance and the FinTech industry?". Minister Gramegna was able to take stock of the various measures and initiatives launched by the government in recent years to promote the development of FinTech in the Grand Duchy. In this context, he particularly praised LHoFT's ongoing efforts to increase the attractiveness of the FinTech ecosystem. The Minister also highlighted the important role regulation plays in stimulating financial innovation, and called for a strengthening of the FinTech regulatory framework at EU level.

Also, during a working lunch organised by the Luxembourg Embassy, ​​Minister Gramegna and Pascal Saint-Amans, Director of Taxation at the OECD, discussed the latest advances in international tax reform work in the digital age, as 127 countries agreed to explore concrete solutions to reach consensus on how rights to tax businesses should be shared in the digital age.

Minister Gramegna commented "Luxembourg's FinTech community has grown again in the past year, and I am pleased to see so many representatives of the Luxembourgish world of the FinTechs present here at the fourth edition of the Paris Fintech Forum. This illustrates the great dynamism of our FinTech ecosystem, which is today recognised as a centre of excellence in Europe for financial innovation."