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The Central Bank is launching absolute Mudaraba certificates of deposit as an investment tool to employ liquidity.

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Tripoli, October 15, 2025 (LANA) - The Central Bank of Libya (CBL) has begun offering absolute Mudaraba Certificates of Deposit (CDs) as an investment tool aimed at leveraging liquidity for banks, institutions, and individuals, in accordance with approved Sharia and accounting standards.

The CBL said in a statement on Wednesday that the CDs will be offered from October 12 to 31, with maturity dates of 91, 182, and 365 days. This is part of the CBL's commitment to developing monetary policy tools that comply with Islamic Sharia.

The CBL explained that the CDs are based on a Sharia-compliant Mudaraba contract, whereby commercial banks act as the principal, and the CBL invests the funds as the mudarib.

The CBL added that the subscription contracts were reviewed by the Central Sharia Supervisory Board, with the participation of experts from the Islamic Development Bank, and with the assistance of a specialized expert as a project advisor, to ensure full compliance with Sharia and accounting standards.

He emphasized that commercial banks are committed to having the contracts and subscription forms for the certificates of deposit they offer to their clients approved by their Sharia Supervisory Boards.

He pointed out that the expected annual return mentioned in the issuance documents is a non-binding indicative estimate intended to illustrate investment performance expectations, and is not a promise or contractual obligation. He noted that profit distribution will be based on actual investment results, and the bank is not obligated to pay any predetermined profits.

According to the statement, the Central Bank adheres to the provisions of Sharia Mudaraba in distributing profits and bearing losses. It does not guarantee capital or profits, and implements risk management policies in accordance with best practices to preserve the safety of funds and achieve investment objectives.

According to the statement, certificates of deposit are subject to the supervision of the Central Sharia Supervisory Board at all stages, from design, issuance, and contracts to distribution and accounting. Meanwhile, the Banking and Monetary Supervision Department monitors implementation in accordance with approved Sharia and banking standards.