Benghazi has launched its first investment sukuk package, with a total value exceeding 1 billion Libyan dinars, as the city looks to expand financing options for private-sector and economic projects.
The package was announced during a business session organised by the Benghazi Chamber of Commerce, Industry, and Agriculture in cooperation with the Libyan Stock Market and Amwal Financial Brokerage Company. The session brought together economic experts, investors, and representatives of relevant institutions.
Participants reviewed the mechanisms for issuing sukuk, along with the legal, regulatory, and technical frameworks governing them. Discussions also focused on using the instruments to attract local savings and direct liquidity into productive, asset-backed projects.
Munim Al-Saaiti, head of the Benghazi Chamber, said investment sukuk could help investors and savers participate in real projects. He added that oversight by the Libyan Stock Market Authority would support transparency and investor confidence.
Mohamed Hammad, chairman of Amwal Investments, described the package as a major milestone for Libya’s private sector. According to his remarks, its value makes it the largest package of its kind in the country’s private sector. The Chamber said the initiative supports the development of local financial instruments and aims to strengthen the private sector’s role in sustainable economic growth.
Source: Libya Update
