imported 2024-03-17 17:43:07
The Banque du Liban has projected real GDP growth in Lebanon at between 2 percent and 4 percent in 2013 amid an economy stalled by the continuing strife in neighboring Syria and the depressed tourism sector caused by the resulting security worries.
Ahmed Rajab, General Manager of Jumhouria Bank, shares his prediction for 2013-2014 banking sector. Jumhouria Bank, the largest bank in Libya, is expected to grow by 15% in 2013-2014.
Ahmed Rajab, General Manager of Jumhouria Bank, talks about money laundering prevention, regulations of the banking sector and safe transfers in Libya.
One of the challenges in the banking sector in Libya is inadequate core banking system. The largest bank in Libya is trying to adopt and implement the latest core banking system to streamline the operations.
One of the main challenges in Libyan banking system is the banking infrastructure. For a country to effectively attract foreign investment and boost domestic economic growth, a sound banking infrastructure is a must.
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.
Ahmed Rajab, General Manager of Jumhouria bank – the largest bank in Libya, discusses the liquidity issues in the banking system in Libya.
The most important role of the banking sector is in Libya’s reconstruction. Many banks are currently lending or granting facilities to the contractors that have contracts with the government for construction.
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
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.
