Benghazi Launches First Investment Sukuk Package for Private Sector

BENGHAZI – The first package of investment sukuk designated for Libya’s private sector was launched on July 25 at the Benghazi Chamber of Commerce, Industry and Agriculture. The Libya Update reported that the package is valued at more than 1 billion Libyan dinars and described it as the largest of its kind in the history of Libya’s private sector.

The Libya Update reported that the sukuk are based on real, securitized assets, that certificate holders become part-owners of the underlying projects, and that the instrument is subject to Libyan Stock Market Authority oversight. The launch was held in Benghazi on July 25, at a value the outlet put above 1 billion Libyan dinars.

The session took place in the chamber’s conference hall in the Garyounis district, under a title The Libya Update rendered as “The First Package of Investment Sukuk – Launch, Excellence, and Sustainability.” Libya Herald reported that it was held under the auspices of the Benghazi Chamber of Commerce, the Libyan Stock Market, and the Libyan Stock Market Authority, with the participation of Amwal Financial Brokerage Company. Al-Ahram Al-Masry News named Amwal as the organizing entity and listed the Libyan Capital Market Authority alongside the chamber among the auspices.

Libya Herald reported that the session aimed to “introduce investment Sukuk and their issuance mechanisms, while reviewing their legal, Islamic Sharia-compliant, technical, and developmental aspects,” with chamber members, businesspeople, investors and interested parties as the intended audience. A preparatory meeting to arrange the session was held on July 6, according to Libya Herald, which described the subject as the first tranche of investment sukuk designated for the private sector.

Speakers Make the Case for Sukuk

Munim Al-Saaiti, head of the Benghazi Chamber of Commerce, told the gathering that investment sukuk “represent an important financial tool for project funding,” The Libya Update reported. Mohamed Hammad, chairman of Amwal Investments, called the package “a major milestone for the private sector,” according to the same outlet.

Al-Ahram Al-Masry News named several speakers on the programme. Dr. Muhammad Al-Shibili addressed the Sharia perspective, saying sukuk “are equal-value securities representing a shared stake, compatible with Sharia and linked to real assets.” Dr. Muhammad Bulifah covered the legal perspective, referring to Commercial Activity Law No. 23 for 2010. The same report named Muhammad Jibril of the Libyan Capital Market Authority, Najib Obaidah of the Libyan Capital Market, Ahmad Al-Fitori of Amwal Financial Brokerage, Engineer Inas Bin Ismail on the technical side, and Dr. Muhammad Hamad on credit.

How the Package Is Structured

According to The Libya Update, the sukuk are based on real, securitized assets, and certificate holders become part-owners of the underlying projects. The instrument is subject to Libyan Stock Market Authority oversight, the same outlet reported. Libya Herald, which previewed the session in advance, didn’t report a value, an issuer, or a regulatory stage for the package.

Stated Objectives

Per The Libya Update, the package is meant to attract local savings, channel liquidity into productive projects, support the national economy, and develop the financial market. The Halal Times reported in September 2025 on an earlier Libyan sukuk initiative, and has examined more broadly how Islamic finance can rebuild economies.

The reports reviewed by The Halal Times don’t specify a subscription window, a closing date, or a listing date for the package. What they do record is the structure The Libya Update described, in which certificate holders become part-owners of the underlying projects, and the Libyan Stock Market Authority oversight the same outlet reported.

Frequently Asked Questions

What are investment sukuk?

They are equal-value securities that represent a shared stake and are linked to real assets, compatible with Sharia, according to Dr. Muhammad Al-Shibili, who presented the Sharia perspective at the Benghazi session as reported by Al-Ahram Al-Masry News.

How much is Libya’s new sukuk package worth?

The Libya Update, the only outlet to report a figure, put the package at more than 1 billion Libyan dinars and described it as the largest of its kind in the history of Libya’s private sector.

Who organized the Benghazi sukuk launch?

Al-Ahram Al-Masry News named Amwal Financial Brokerage Company as the organizing entity, under the auspices of the Libyan Capital Market Authority and the Benghazi Chamber of Commerce, Industry and Agriculture. Libya Herald reported the session was held under the auspices of the Benghazi Chamber, the Libyan Stock Market, and the Libyan Stock Market Authority, with Amwal participating.

Is this Libya’s first sukuk?

No source reviewed for this report makes that claim. Libya Herald describes it as the first tranche of investment sukuk designated for the private sector, while The Libya Update calls it the first package of investment sukuk and the largest of its kind in the history of Libya’s private sector.

Has the Benghazi sukuk package been subscribed or listed yet?

No subscription window, closing date, or market listing appears in the reports reviewed by The Halal Times. They describe the launch of the package rather than a completed issuance.