SHARIA BANKING
LIBYA

LIBYA SHARIA BANKING LIBYA ISLAMIC BANKING FINANCE


LIBYA ISLAMIC BANK MURABAHA MUDARABA

In Libya, sharia-compliant banking currently accounts for a marginal share of the Libyan financial sector. Recent estimates expect that Islamic financial assets in Libya could reach more soon.

Libya is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Libya's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.

Currently, Libya has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.