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Libyan revolution opens door for Islamic finance

Posted on 08 November 2011

Libya’s civil war devastated its economy and banking system. But the revolution has created conditions for strong growth of an industry which made little headway under former Gaddafi: Islamic finance.
Announcing the country’s liberation to a cheering crowd in Benghazi last week, the head of the new government made few concrete pledges of economic policy. But one of them was to promote Islamic finance, which prohibits the lending of money for interest and other practices violating religious principles………………………………………..Full Article: Source

 
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