Awash with hydrocarbons and boasting a highly liquid banking sector, Libya's potential is vast. However, continued political and social unrest, combined with the dominant position of state-owned banks, mean that the country's private sector banks have numerous obstacles preventing them from realising this potential.
Africa
Latest articles from Libya

North African Islamic finance in the post-Arab Spring world
November 7, 2012The Arab Spring uprisings have brought change on an unprecedented scale to north Africa over the past couple of years, but what impact have these changes had upon the region's appetite for Islamic finance?

Noor Islamic Bank pushes Islamic finance towards maturity
November 7, 2012Islamic finance is increasingly being viewed as a credible alternative to conventional finance, but Hussain Al-Qemzi, group chief executive of Dubai-based Noor Investment Group and chief executive of Noor Islamic Bank, recognises that Islamic institutions must work together if they are to compete with conventional banks.

Top Arab banks ranking, 2012
October 1, 2012Arab banks offset the turmoil of the Arab Spring and offered a robust performance in 2011 with impressive growth across the key financial indicators. And with minimal exposure to the eurozone crisis, the region's banks are expected to continue their recovery from the global financial crisis.

Libyan Stock Market chief looks to privatisation drive
March 1, 2012The general manager of Libya's stock market says the recently reopened exchange will help to quicken the country's recovery from its revolution last year by reigniting its privatisation process.

Libya: what now?
March 1, 2012As Libya emerges from 42 years of state domination under former leader Muammar Gaddafi and an eight-month civil war, the country’s banking sector faces opportunities and challenges in almost equal measure.

Will Libya's state-run financial institutions lead its revival?
March 1, 2012After years of economic mismanagement, Libya's two key state financial institutions – the Libyan Foreign Bank and the country's sovereign wealth fund, the Libyan Investment Authority – are restructuring and carving out new strategies as the country wakes up to a new economic dawn.
Libyans play economic waiting game
March 1, 2012Amid the celebrations to mark the first anniversary of Libya's revolution, strong economic leadership of the country is yet to emerge.

Libya seeks outside help to modernise banking sector
October 3, 2011Libya's former central bank governor tells how the country's uprising will lead to many opportunities for investors in the oil, tourism, mining and banking sectors, as long as there is a return to stability.
Freedom pass
August 30, 2010Recent laws passed in Libya are aimed at removing the obstacles of previous legislations, allowing local businesses to compete and operate internationally, and bringing the economy into the modern age. Stephen Timewell reports.