Economic task force recommends adopting Islamic banking

News In Brief

Economic task force recommends adopting Islamic banking

July 12, 2021 - 11:51
Written by: SafaAlharathy

The economic working group formed by the government is recommending amending banking regulations in line with Islamic banking and financing development projects.

At a meeting on Tuesday chaired by the Minister of State for Economic Affairs Salama Al-Ghwail, the group discussed topics concerning economic governance and issued a set of recommendations.

The team emphasized the importance of the PM's decision to transfer local revenues to municipalities unless there are any reservations from the finance, planning, and interior ministries.

They also urged the Real Estate Savings Bank to complete housing unit projects in Libyan cities.

Amongst the topics debated was the public electricity network. The meeting recommended cutting off electricity to some factories that consume large amounts of energy.