Banking & Finance

The chairman of the Libyan Investment Authority (LIA) said in a recent interview that the sovereign wealth fund now has approval to invest within Libya, and is reviewing its accounts.
Libya's crude oil revenues stood at LD32.6bn ($25bn) in the first half of 2012 as production recovered strongly after the 2011 conflict.
The Central Bank of Libya (CBL) has organised workshops on Islamic financing and small and medium-sized businesses.
The state-controlled Qatari bank, which acquired the 49% stake in April, reportedly renegotiated the deal after originally agreeing a price of LD240m ($189m) in 2010.
The Central Bank of Libya (CBL) has announced Ramadan and Eid working hours applicable to all commercial banks in Libya
The Central Bank of Libya (CBL) says it will accept cheques above LD250,000 ($197,000) into its automated cheque processing system until the end of August.
The Sahara Insurance company recorded a net profit of LD605,000 ($476,000) in the second quarter of 2012.
The Libyan Stock Market (LSM) which manages and regulates the country's bourse, says it made a net profit of LD1.8m ($1.4m) in the second quarter of 2012.
United Insurance, which is listed on the Libya Stock Market (LSM), held its annual general meeting in late June and approved a dividend to shareholders.
The Libyan Stock Market (LSM) regulator has named the three companies who have best complied with disclosure requirements in the second quarter of 2012.
The state-controlled National Union Engineering Consultants, which is listed on Libya's stock market, held assets of LD10.6m ($8.3m) at the end of the first quarter but recorded a sizable loss.
State-controlled Gumhouria Bank, Libya's largest lender by asset size, made a net profit of LD95.3m ($75m) in April-June 2012, with total assets up slightly on the previous quarter.
The Ministry of Economy has published a new decision setting out regulations governing Islamic insurance, or takaful.
The Central Bank of Libya (CBL) says it is preparing to implement a new electronic clearing system for local transactions between Libyan banks.
Interim finance minister Hassan Ziglam has said that Libya will not incur a budget deficit in 2012 as it is unlikely to use its full capital expenditure budget.