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With upcoming facilities that will include a modern airport, busy commercial seaport and a strategic location on a busy East-West trade route.

Libya's central bank is proposing to issue Islamic bonds to help fund the country's budget and offset a loss of oil revenues that could create a deficit of USD25bn this year, a bank official said

Britain became the first Western country to sell an Islamic bond on Wednesday, drawing orders of more than 2 billion pounds ($3.39 billion) - over 10 times the planned issue amount.

LONDON (Reuters) - Britain does not plan any more sales of Islamic bonds for the time being, the head of the UK Debt Management Office said on Wednesday.Britain received orders of more than 2 billion pounds during the bookbuilding process for the sale of its first Islamic bond, one of the bookrunners for the syndication said on Wednesday."At this stage it&aposs planned just to be a one-off," UK DM

Libya's central bank is proposing issuing Islamic bonds to help fund the budget and offset a loss of oil revenues, the bank's spokesman said.

Libya's central bank is proposing issuing Islamic bonds to help fund the budget and offset a loss of oil revenues, the bank's spokesman said.