A journey of trust and excellence in delivering banking solutions.
A journey of trust and excellence in delivering banking solutions.
We offer you a current account at the Libyan Islamic Bank, specially designed to provide seamless and flexible access to your funds. This account complies with Islamic Sharia principles and features a wide range of benefits developed to meet your daily banking needs. Our current account is the ideal choice for your everyday financial transactions, giving you peace of mind and the ability to manage your money efficiently.
A Letter of Credit is a written commitment issued by a bank (the issuing bank) at the request of the buyer (the applicant or purchaser). This commitment is delivered to the seller (the beneficiary) in accordance with the buyer’s instructions, or it may be issued by the bank on its own behalf. Under this letter of credit, the bank undertakes to fulfill payment (in cash or by accepting a bill of exchange) within a specified amount and time frame, provided that the seller presents the shipping documents that comply with the terms and conditions of the credit. The Letter of Credit service offers security and flexibility in your commercial transactions, ensuring smooth financial procedures between all parties involved.
Because you aspire every day to a unique lifestyle and always strive for the best, we offer you credit cards compliant with Islamic Sharia principles — opening the door to a world of privileges, services, and added value designed to meet your needs with flexibility.
Because you aspire every day to a unique lifestyle and always seek the best, we offer you credit cards compliant with Islamic Sharia principles, opening the door to a world of privileges, services, and added value—designed to meet your needs with flexibility.
Islamic Murabaha:
It is the sale of a commodity at the same price the seller purchased it for, plus a known and agreed-upon profit margin, either as a percentage of the price or a fixed amount. This can happen without a prior promise, which is called ordinary Murabaha, or it can occur based on a promise to purchase from the person wishing to obtain the commodity through the bank, known as Murabaha al-Amir bil-Shira’ (Murabaha by order to buy). This type of sale is among the sales of trust, relying on clear disclosure of the purchase price or cost (including usual expenses) with an agreed profit margin.
The majority of Islamic scholars have ruled that Murabaha is permissible based on the following evidence:
It falls under the general meaning of Allah’s statement: “And Allah has permitted trade” (Quranic verse).
It is also supported by analogy with the incident of tawliyah: the Prophet Muhammad (peace be upon him) bought a she-camel from Abu Bakr for a price, as Abu Bakr had initially wanted to gift it to him, but the Prophet insisted on paying the price.
Islamic Murabaha:
It is the sale of a commodity at the same price the seller purchased it for, plus a known and agreed-upon profit margin, either as a percentage of the price or a fixed amount. This can happen without a prior promise, which is called ordinary Murabaha, or it can occur based on a promise to purchase from the person wishing to obtain the commodity through the bank, known as Murabaha al-Amir bil-Shira’ (Murabaha by order to buy). This type of sale is among the sales of trust, relying on clear disclosure of the purchase price or cost (including usual expenses) with an agreed profit margin.
The majority of Islamic scholars have ruled that Murabaha is permissible based on the following evidence:
It falls under the general meaning of Allah’s statement: “And Allah has permitted trade” (Quranic verse).
It is also supported by analogy with the incident of tawliyah: the Prophet Muhammad (peace be upon him) bought a she-camel from Abu Bakr for a price, as Abu Bakr had initially wanted to gift it to him, but the Prophet insisted on paying the price.
Islamic Murabaha:
It is the sale of a commodity at the same price the seller purchased it for, plus a known and agreed-upon profit margin, either as a percentage of the price or a fixed amount. This can happen without a prior promise, which is called ordinary Murabaha, or it can occur based on a promise to purchase from the person wishing to obtain the commodity through the bank, known as Murabaha al-Amir bil-Shira’ (Murabaha by order to buy). This type of sale is among the sales of trust, relying on clear disclosure of the purchase price or cost (including usual expenses) with an agreed profit margin.
The majority of Islamic scholars have ruled that Murabaha is permissible based on the following evidence:
It falls under the general meaning of Allah’s statement: “And Allah has permitted trade” (Quranic verse).
It is also supported by analogy with the incident of tawliyah: the Prophet Muhammad (peace be upon him) bought a she-camel from Abu Bakr for a price, as Abu Bakr had initially wanted to gift it to him, but the Prophet insisted on paying the price.
Islamic Murabaha:
It is the sale of a commodity at the same price the seller purchased it for, plus a known and agreed-upon profit margin, either as a percentage of the price or a fixed amount. This can happen without a prior promise, which is called ordinary Murabaha, or it can occur based on a promise to purchase from the person wishing to obtain the commodity through the bank, known as Murabaha al-Amir bil-Shira’ (Murabaha by order to buy). This type of sale is among the sales of trust, relying on clear disclosure of the purchase price or cost (including usual expenses) with an agreed profit margin.
The majority of Islamic scholars have ruled that Murabaha is permissible based on the following evidence:
It falls under the general meaning of Allah’s statement: “And Allah has permitted trade” (Quranic verse).
It is also supported by analogy with the incident of tawliyah: the Prophet Muhammad (peace be upon him) bought a she-camel from Abu Bakr for a price, as Abu Bakr had initially wanted to gift it to him, but the Prophet insisted on paying the price.
Islamic Murabaha:
It is the sale of a commodity at the same price the seller purchased it for, plus a known and agreed-upon profit margin, either as a percentage of the price or a fixed amount. This can happen without a prior promise, which is called ordinary Murabaha, or it can occur based on a promise to purchase from the person wishing to obtain the commodity through the bank, known as Murabaha al-Amir bil-Shira’ (Murabaha by order to buy). This type of sale is among the sales of trust, relying on clear disclosure of the purchase price or cost (including usual expenses) with an agreed profit margin.
The majority of Islamic scholars have ruled that Murabaha is permissible based on the following evidence:
It falls under the general meaning of Allah’s statement: “And Allah has permitted trade” (Quranic verse).
It is also supported by analogy with the incident of tawliyah: the Prophet Muhammad (peace be upon him) bought a she-camel from Abu Bakr for a price, as Abu Bakr had initially wanted to gift it to him, but the Prophet insisted on paying the price.