Banking & Finance

21-11-2010
The Central Bank of Libya and Central Bank of Tunisia have agreed to create a unified debit card platform so that cards may be used in transactions in either country, according to Libyan state media.
14-11-2010
In early November the Oyia newspaper quoted Suleiman Chehoumi, the chairman of the management committee of the Libyan Stock Market (LSM), as saying that 20 local companies had signed agreements to list on the Tripoli bourse in 2011.
01-11-2010
Arab Bank will raise its stake in Wahda Bank from 19% to 32%, according to Al Jamahiriya. A precise timeframe for the process has not been announced.
24-10-2010
Sahara Bank recorded 2009 losses of LD585m ($468m) according to the Quryna newspaper, a figure reportedly caused by a high level of non-performing loans that have built up over the past few years.
24-10-2010
Libyan ambassador to Uganda Abdalla Bujeldain has told the press that Libya is now the second-largest investor in Uganda.
12-08-2010
UniCredit has been granted preliminary approval by the Central Bank of Libya to open a subsidiary in the country.
12-08-2010
The Libyan Iron and Steel Company (LISCO) will soon issue shares on the Libyan Stock Market (LSM) with the intention of raising LD5.2bn ($4.0bn), reported the Al Fajar Al Jadid newspaper.
12-08-2010
Al Refi Bank, a local bank, is to distribute LD500,000 ($388,804) in 140 loans to families engaged in small production projects, according to the Al Shams newspaper. 
05-08-2010
The winners of two new banking licenses, originally expected to be announced in late July, have not yet been named by the Central Bank.
02-07-2010
The Libyan Investment Authority (LIA), the country’s sovereign wealth fund, has increased its stake in the UK-based educational publisher and owner of the Financial Times, Pearson, to 3.01%.
02-07-2010
According to reports in the Independent newspaper, Libya intends to invest substantially in a new hedge fund based in London.
25-05-2010
In February the Central Bank of Libya invited international banks to apply for two licenses to form subsidiaries in the country. These initial applicants were then shortlisted down to six, with the selected banks required to submit final offers by 15 June 2010.
25-05-2010
In March Libya’s National Council for Economic Development (NCED) signed an agreement with Saudi Arabia’s Islamic Corporation for the Development of the Private Sector (ICD) to create a fund dedicated to developing new small and  medium enterprises (SMEs) in Libya.
11-02-2010
The Central Bank of Libya is underwriting the Bahrain-based Arab Banking Corporation’s (ABC) $1.1bn issue, the bank announced earlier this month.
11-02-2010
The Libyan Investment Authority (LIA) bought 1.4% of Rusal stock for $300m through an initial public offering in Hong Kong in late January.