Tag Archives | NTC

Libya approves Islamic banking law -official

Libya has approved an Islamic banking law that will introduce sharia-compliant banking in the North African country, a member of the ruling National Transitional Council (NTC) said on Thursday. Libya has been working to amend its banking laws to attract foreign investment and stimulate its private sector following last year's war that ousted Muammar Gaddafi, […]

Libya says oil sector won't nationalize

The Libyan government intends to uphold agreements between foreign investors and the previous regime, an interim leader said at an oil conference in Dubai. Mustafa el-Huni, deputy chairman of the interim Transitional National Council, told potential investors in Dubai that it was business as usual in post-revolution Libya. "We have no intention to nationalize or […]

Libya finmin says to resign soon, cites "wastage"

Libya's interim finance minister said on Thursday he would resign soon because of "wastage of public funds", citing a now-halted scheme to compensate former fighters and pressure from them for payment. "I will resign. I can't keep working in these circumstances," Hassan Ziglam told Reuters in an interview. "There is a wastage of public money […]

In muddle of Libya's finances, billions go missing

Months after rebels brought down the extravagant dictatorship of Muammar Gaddafi, the disarray in Libya's state finances at the end of last year was so bad the new leadership did not know the size of state assets, how their money was being spent, or what had happened to more than $2 billion transferred from the […]

Tags: ,

Libya allows religion-based parties

Libya has dropped a ban against parties based on religion, tribe or ethnicity, an official said, after the law irked Islamist parties in the run up to the first free election in June. Members of the ruling National Transitional Council's judicial committee on Wednesday read out an amended version of a law governing the formation […]

Tags: ,

Libya leader says government to stay put until elections

Libya's ruling National Transitional Council (NTC) decided on Sunday to keep the interim government in power in the run up to a June election, its leader said, quashing rumors of a reshuffle that has sowed uncertainty in the strife-torn state. The NTC is the unelected body internationally recognized as the ultimate power in the country […]

Tags: ,

Libya's ruling council fires cabinet

Libya's interim ruling council has fired the nation's cabinet just five months after it took office, citing incompetence. National Transitional Council official Fathi Baja told The Associated Press on Thursday that 65 of the NTC's 72-members approved a no-confidence motion against Prime Minister Abdurrahim el-Keib in a meeting on Wednesday. It's the latest blow to […]

Libya bans religious, tribal or ethnic parties

Libya, preparing for elections in June, has banned parties based on religion, tribe or ethnicity, the government said on Wednesday, and a new Islamist party viewed as a leading contender signaled it would challenge the decision. National Transitional Council spokesman Mohammed al-Harizy said the council passed the law governing the formation of political parties on […]