Tag Archives | Central Bank of Libya

Central Bank to join EBRD Convention

Libya Herald reports that the Central Bank of Libya (CBL) has initiated the process of joining the convention of the European Bank for Reconstruction and Development (EBRD), following approval from the GNC for the move. The convention aims to providing technical support for countries experiencing economic and infrastructure transition. Under this initiative, the EBRD will […]

Old Attitudes to the Private Sector Must Change

By Padraig O'Hannelly. Last week I had the pleasure of attending an excellent panel discussion hosted by the Legatum Institute in London. Addressing the topic of Reforming Libya’s Financial Sector, and the Politics That Go With It, were banker Mark Dempsey, of Brehon Advisory, former Libyan Health Minster, Dr Fatima Hamroush, and Mary Fitzgerald, Foreign […]

Libya to Issue 3 Islamic Bank Licenses

Libya hopes to have its first three dedicated Islamic banks operating next year to satisfy unmet demand for sharia-complaint financial services, a senior central bank official has said. Authorities have decided to issue three Islamic banking licenses and the central bank has received five applications from local investors, which are currently being evaluated, said Abdulmajeed […]

$54m Bank Robbery in Sirte

Gunmen have reportedly stolen $54 million in an attack on a van carrying foreign and local currency for the Libyan central bank. According to the BBC, the cash had been flown from Tripoli to Sirte, about 400 kilometers southeast of Tripoli, and was taken when ten men stopped the van as it entered the city […]

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 […]

Blast Seriously Damages Central Bank Office

A bomb blast has caused serious damage to public buildings in Benghazi, on the anniversary of the September 11, 2012, assault on the U.S. consulate in Benghazi that killed four Americans, including Ambassador Christopher Stevens. The local headquarters of the central bank was seriously damaged, as was a foreign ministry building. No casualties have been reported. […]

30 Applications to Head Central Bank

Libya Herald reports that 16 candidates have been nominated for the governorship of the Central Bank of Libya, with a further 14 nominated for the deputy governorship. Among those proposed as governor are Ali Tarhouni, the economy minister in the first post revolution administration led by Mahmoud Jebril under the National Transitional Council. A shortlist […]

LIA First-Half Profits Over $2 billion

The Deputy Governor of the Central Bank of Libya has announced that the Libyan Investment Authority (LIA) made a profit of $2-2.25 billion in the first half of 2013, according to a report from Libya Investment. The sovereign wealth fund valued its investment portfolio at $64 billion in 2010. The Deputy Governor said Libya needs […]