In a recent conference, the top brass of the Central Bank of Libya, including Governor Al-Siddiq Al-Kabir and Deputy Governor Marai Al-Barasi, engaged in detailed discussions on the progression of the Islamic finance sector. Their dialogue included the pivotal role that this sector plays in fostering sustainable economic development and promoting inclusive financial practices.
The deliberations took place at the 43rd assembly of the Supreme Council for Islamic Financial Services in Jeddah, Saudi Arabia. The council is dedicated to fortifying the Islamic financial services industry’s resilience and stability. It pursues this objective through the development of preventive measures and the establishment of guiding principles that shape the industry.
These efforts underscore the increasing importance of Islamic finance as a tool for economic empowerment and its potential to contribute significantly to the financial ecosystem, particularly in regions like Libya.