Libya opens doors to foreign banks

central-bank-libya

The Central Bank of Libya on Monday invited foreign banks looking to set up in the North African country to submit formal expressions of interest, saying the country offered "excellent opportunities" for overseas institutions.

The central bank, which is also the country's regulator, said it would issue two licences to foreign banks permitting them to establish new subsidiaries in Libya, of which they could own up to 49%. Domestic investors will own up to 51%.

The move was a result of momentous c

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