ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
On 15 February 2010, the Central Bank of Libya invited foreign banks to submit expressions of interest for two new bank licences.
The licences would be granted for a maximum stake of 49 percent in a joint-venture between a successful candidate and a Libyian company. Notwithstanding the minorty share, foreign banks may enjoy full management control in the joint-venture.
So far banks from France, Italy, Portugal and the UK arereported to show interest in the new licences.
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