Banking

imported 2024-03-17 17:43:07

Privatization of Banks in Libya

Privatization of the banking sector in Libya was limited to Sahara Bank and Wahda Bank – No3 and No4 bank in the country. The head of the largest bank in Libya discusses the outlook for privatization of the banking sector. BNP Paribas assumed 18% of Sahara Bank and Arab Bank, the largest bank in the Arab world assumed 18% of Wahda Bank. The privatization, in Rajab’s opinion, did not go smoothly and the subsequent problems emerged.

Jumhouria Bank: First Bank in Libya

Jumhouria is the number one bank in Libya. The creation of Jumhouria Bank was the result of a merger between Al Ummah Bank and Jumhouria Bank. Today, the bank has a total capital of about LYD 1 billion and total assets for 2012 of LYD 33 billion on balance sheet and about LYD 12 billion dinar off balance sheet for a total of about LYD 44 billion.

Top Banks in Libya

Top Banks in Libya
Marcopolis.net presents top banks in Libya.
Prior to the 2011 revolution that resulted in the overthrow of long-term dictator, virtually the entire banking sector in Libya was dominated by the state-run banks, with partial privatization of Sahara Bank and Wahda Bank. After the revolution, the banking sector in Libya still dominated by the state-owned banks.

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