Awareness of Libyan Commercial Banks Staff of the Importance of Islamic Cheque Book (Sukuk) in Financing Economic Development Projects

دراسة ميدانية على العاملين بالفروع والنوافذ الإسلامية في المصارف التجارية العاملة بمدينة بنغازي

Abstract

This study aims to investigate the important role of Islamic Sukuk in financing big development projects through examining similar previous international and regional experiences for many projects. This review shows that these Sukuk dominates the provision of the necessary finance for many big projects. It also reveals the awareness of Bangazi Islamic Commercial Banks personnel about the major role of these cheques (Sukuk). The data of this study was collected through 77 questionnaires. The results revealed the important role of Islamic Banks in financing major development projects. The flexibility of this method makes it a leading and promising financial technique. Moreover, the staff of Islamic Banks in Bengai were found aware about the major role of Islamic cheques (Sukuk) in financing development projects. It is therefore recommended to utilize similar successful experiences in other countries.

Key Words: Islamic cheques (Sukuk), Major projects, financing