Islamic Finance Contracts Training for Libyan Development Bank Staff

04 Apr, 2022

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The Islamic Development Bank Institute (IsDBI) has organized two virtual training programs on “Principles and Contracts of Islamic Finance” for the staff of Development Bank in Libya.

The intermediary level programs, delivered from 15-17 March and 22-24 March 2022, were the result of a collaboration between IsDBI and Libyan financial institutions which involved identifying and satisfying the training needs of the institutions.

The goal of the training programs was to build the capacity of professionals engaged in financial development activities in the Libyan Development Bank to equip them with sufficient understanding of Shari’ah rules for the valid applications of Islamic finance and investment core contracts.

Twenty-five trainees attended nine training sessions in each training program. Dr. Mohamed Ayyash, Senior Training Specialist at IsDBI, delivered the training sessions of both programs.

Areas covered during the sessions included Shari’ah rules for the valid applications of installment sale contract, deferred payment sale contract, mark-up sale contract, advance payment sale contract, manufacturing sale contract, operation lease contract, lease ending with asset ownership contract, permanent partnership contract, diminishing partnership contract, and Mudharaba contract.

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