The National Economic and Social Development Board (NESDB) announced today that, in cooperation with the Capital Market Authority, it organized the "Libyan Sukuk Forum: Finance and Investment" (the first forum on investment Sukuk).
Sukuk are Islamic, Sharia-compliant bonds.
It said this comes as part of efforts to enhance institutional integration and develop a system of non-banking financial instruments in Libya.
The event saw broad participation from government ministers, representatives of financial institutions, experts, and academics.
The forum witnessed remarks from the NESDB Director-General, the Minister of Economy and Trade, and the Chairman of the Capital Market Authority’s Management Committee. The speakers underscored the importance of developing Islamic finance instruments and their role in supporting economic diversification in Libya.
The forum’s main panel discussion featured active participation from leadership and representatives of the Capital Market Authority and its affiliated entities. The Director of the General Department for the Regulation and Supervision of Non-Banking Financial Instruments at the Libyan Capital Market Authority, alongside the head of the Sharia Supervisory Boards for Special Purpose Vehicles (SPVs), highlighted the significance of investment Sukuk from both regulatory and Sharia-compliant perspectives.
The session also showcased notable practical and pioneering initiatives, including the experience of "Libus" (Libos) Financial Services and Investments—specifically a project to finance a carpet factory in the Misrata Free Zone—as well as the experience of "Amwal Libya" Financial Brokerage, presented by the company’s Director-General.
The forum concluded with an open dialogue session and a general discussion involving experts and representatives from financial institutions. The objective was to exchange insights and consolidate efforts to formulate final recommendations, which will be presented to higher authorities for appropriate action—ultimately supporting paths toward economic diversification and the activation of Islamic finance instruments within the Libyan market.