ANNOUNCEMENT 15 Feb 2010In February 2010, the government of Libya announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Central Bank of Libya. (2010). INVITATION TO SUBMIT AN EXPRESSION OF INTEREST To Set Up a Subsidiary in Libya. Available at http://cbl.gov.ly/en/home/details.php?cid=75&id=687
Economist Intelligence Unit. (2010). Regulatory Watch: Libya, 16 March.
Reuters. (2010). Big foreign interest in Libya bank licence.
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.