Tag Archives | Central Bank of Libya

Libya: Economic Development

 On 22 December 2011, the European Union (EU) unfroze all assets of the Central Bank of Libya and the Libyan Arab Foreign Bank, according to Reuters. In a separate article, Reuters reports that port workers in Tripoli went on strike 01 January to demand better working conditions and government invest-ment to repair damage caused by […]

Libya Receives Funds, Assets Unfrozen by EU

One week after the European Union's decision to unfreeze funds and assets belonging to the Central Bank of Libya and the Libyan Arab Foreign Bank, Libya has received 97 billion dollars. Confirmation that the money is now in the Libyan government's hands was given by the Libyan Central Bank's deputy governor at a press conference […]

Libyan Islamic banking law seen in March

Libyan central bank may finalise Islamic finance regulations by March, in what would be the first major step towards introducing sharia-compliant banking in the country. The bank’s deputy governor, Ali Mohammed Salem, also told Reuters in an interview on Tuesday the exchange rate of the Libyan dinar would be fixed for up to three years, […]

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 […]

Libya is 7th largest investor in Abu Dhabi

Libya emerged as the seventh largest investor in Abu Dhabi at the end of 2008 while Britain was the top investor, pumping nearly a third of the total capital into the emirate, according to government data. By the end of 2008, foreign direct investment (FDI) into Abu Dhabi totalled nearly 51.6 billion, up by around […]

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 […]