Libya in 2014 ...

By Padraig O'Hannelly.

As 2013 draws to a close, Libya's General National Congress has voted to extend its mandate until late December 2014.

Given the failure of the parliament to draft a constitution, this is not a surprise, but many have also been disappointed by the GNC's failure to bring the militias under control and to secure oil exports.

A recent decision to make Sharia law the foundation of all legislation and state institutions in the country has also caused confusion, while legislation banning non-Shariah-compliant banking by 2015 is strangling access to funds.

But as we welcome a new year there may be some brightness on the horizon, with the likely resumption of oil exports from Hariga, and a vote of confidence from KPMG, which is launching a member firm in Tripoli.

With another challenging but potentially rewarding year to come, we at Libya Business News wish all Libyans at home and abroad a happy, peaceful and prosperous 2014.

(Flag image via Shutterstock)

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