The Governor of the Central Bank of Libya, Naji Issa, called for developing the country’s mortgage finance system, describing it as a key driver of economic growth and urban development.
In a speech during a national dialogue hosted by the Ministry of Housing and Construction in Tripoli, Issa said that expanding the scope of mortgage finance would help revive the construction sector, create job opportunities, and improve living standards.
He stressed that building an effective mortgage finance system requires coordinated efforts between legislative, executive, and regulatory authorities, as well as banks, financial institutions, and the private sector.
Tripoli
Tripoli is the capital of Libya and one of the oldest cities in North Africa, with a history dating back to the 7th century BC, when it was founded by the Phoenicians under the name Oea. Over time, it was conquered by the Romans, Byzantines, Arabs, and Ottomans, becoming an important commercial and cultural center in the Mediterranean region. Today, the city retains traces of these civilizations, including in the architecture of the old medina and the Assaraya al-Hamra fortress.