"I can't afford to build it on my own," the 52-year-old university professor said in an interview in the capital. "TraditionalÂ banks are barred from offering loans because they aren't Islamic but no alternatives have been introduced."
Euphoria over a law passed this year that would make Libya the third Middle Eastern country after Iran and Sudan to ban non-Shariah compliant banking by 2015 has turned into frustration and confusion. Parliament and the central bank have distanced themselves from the decision of commercial lenders to stop offering loans immediately. The law didn't stipulate when the transition would start, according to Omar Hamaidan, a spokesman for the legislature.