Like all sectors, Libya’s banking market was severely disrupted by the eight-month civil war that saw the death of former leader Muammar Gaddafi, but as the lifeblood of the economy, a smoothly functioning banking sector is crucial to rebuilding the country.
The immediate challenge for the authorities is to restore liquidity after Libyans rushed to withdraw their cash from the banks during the revolution that began in February 2011 and ended on October 23 when the country’s liberation was declared.
