Tag Archives | Shariah-compliant services

Progress Reported on Sharia-Compliant Banking

Libya Herald reports that the Central Bank of Libya is continuing to work on plans for the introduction of Sharia-compliant banking. Fatih Aqoub, a consultant working on the project, has been reported as saying that rapid progress has been made, since a special committee began work in January. The committee had been studying best practice […]

Employees Protest for Sharia Banking

A number of employees at a branch of Sahara Bank in Benghazi have held a demonstration outside the bank to protest against its use of interest. They demanded that the bank start using Sharia-compliant banking methods. According to the Libya Herald, none of Libya’s major banks are Sharia-compliant, but the Governor of the Central Bank, […]

Libya approves Islamic banking law -official

Libya has approved an Islamic banking law that will introduce sharia-compliant banking in the North African country, a member of the ruling National Transitional Council (NTC) said on Thursday. Libya has been working to amend its banking laws to attract foreign investment and stimulate its private sector following last year’s war that ousted Muammar Gaddafi, […]