Libya Plans Law to Pave Way for Islamic Bond Sales: Arab Credit

Libya’s central bank is arranging a law to give permission to lenders and issuers to sell Islamic bonds as part of its efforts to evolve banking services after the fall of Muammar Qaddafi.
Mustafa Abdel Jalil, an Islamic jurist and former justice minister who heads the ruling National Transitional Council, stated that Libya’s banking industry will be made Shariah-compliant.
Bloomberg shows that global sales of sukuk climbed to $18.9 billion in 2011, compared with $13.5 billion in the same period last year.