Libya is considering offering private sector banking licences next year in an effort to attract foreign banks to the oil-rich north African country, which has recently shed its pariah status after mending relations with the US and Europe.
Farhat Bengdara, governor of the Central Bank of Libya, told the Financial Times that in 2010 Libya would “set up criteria” and advertise for licences “according to our study of the market”.
This would be “the second” phase of Libya’s move to open its banks to foreign investors after the sale of minority stakes in two of its three state-owned banks in the past two years.
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