Tag Archives | Libyan Foreign Bank

NOC Meets with Libyan Foreign Bank

On Tuesday, September 22nd, the National Oil Corporation (NOC) in Tripoli held a meeting between its chairman, the Board of Directors of NOC, the executive manager of the Stream Company (Aldafaq), the general manager of NOC finance department, and managers of other departments in NOC, and representatives from the Libyan Foreign Bank, including the general […]

HSBC Pulls Out of Libya

The Telegraph reports that HSBC is cutting its ties with Libya with the closure of its representative office in Tripoli, ending a presence in the country that dates back more than 50 years. The office, which manages investments in the North African state, opened in 2006 as part of an expansion in the Middle East […]

Turkey, Libya Tension over Letters of Guarantee

Today’s Zaman reports that Libya is seeking to cash in letters of guarantee issued for projects Turkish contractors undertook but had to temporarily abandon due to the revolution. Libya has recently attempted to convert a letter of guarantee issued for a Turkish contracting firm, a member of the Turkish Contractors Association (TMB), into cash. Upon […]

Jumhouria Bank on Mortgages and SME Loans

By Osama Humaydan. In the recent speech, Mr. Akkari, chairman of Jumhouria Bank, the largest bank in Libya, noted that the upcoming period will witness major developments by the Central Bank of Libya. These developments are related to new products and services, and, most importantly, to housing loans, which will be given out to those […]

Libyan Foreign Bank Considers Strategy

The Libyan Foreign Bank (LFB) has begun a a three-day seminar to see how it can better integrate its banking subsidiaries in 22 countries throughout Africa, Europe and the Middle East, according to Libya Herald. LFB chairman Ben Issa Ahmed explained that, along with Libya itself, the bank had undergone many changes and needed to […]

Libya bank rolls out Islamic products

The Libyan Foreign Bank will offer Shariah-compliant products as the government prepares regulation to make Islamic banking the norm in the North African nation following the ousting of Moammar Gadhafi. “Islamic products are being introduced and will predominate, but we will not relinquish the use of traditional banking,” general manager Mohammad Ben Yusef said in […]

Libya’s c.bank expected to have sanctions lifted

Libya’s central bank and a subsidiary are expected to have U.N. sanctions against them lifted on Friday in a move to ease a cash crunch since the country’s civil war ended, diplomats said on Wednesday. They said the Central Bank of Libya and the Libyan Foreign Bank (LFB), an offshore institution wholly owned by the […]

Switzerland eases sanctions on Libya

Switzerland will on Thursday unblock some frozen Libyan assets and allow the transfer of money to some state institutions, the Swiss government said on Wednesday. The move will allow the transfer of money and other assets to the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment […]