TY - JOUR AU - A. Mohamed Barg Enab, Abubaker AU - Mohd. Noor, Azman AU - Obaid Hasan Saleh, Abdulmajid PY - 2019/12/01 Y2 - 2024/03/29 TI - The Extent of Possibility of Applying a Mode of Financing Services and Benefits in Libyan Banks: مدى إمكانية تطبيق صيغ تمويل الخدمات والمنافع في المصارف الليبية JF - International Journal of Fiqh and Usul al-Fiqh Studies JA - IJFUS VL - 3 IS - 2 SE - Articles DO - 10.31436/ijfus.v3i2.154 UR - https://journals.iium.edu.my/al-fiqh/index.php/al-fiqh/article/view/154 SP - 47 - 57 AB - <p><em>Law no. 1 of the year 2013 issued by the Central Bank of Libya has caused a challenge for Libyan banks because this law has prevented all Libyan commercial banks from providing personal loans with interest (riba) at a time when there was no existence of Islamic banking activities. This problem called for finding a suitable alternative for personal financing. An alternative would be the creation of financing services and benefits based on Shari`ah rules. Therefore, this research aims to study the conditions and work mechanisms for the mode of financing services and benefits and the possibility of employing it as a source of personal finance in Libyan banks. This research uses descriptive and analytical approaches. The study has arrived at a number of findings. The most important of them are: it is possible to implement the mode of financing services and benefits as a source of personal finance to meet the needs of customers, and this mode has the characteristics that qualify it to be a good alternative for personal loans.</em></p><p><strong><em>Keywords: Personal Financing, Financing Services and Benefits, Islamic Financing, Libyan Banks.</em></strong></p> ER -