Libya considers letting in foreign banks December 9, 2004
Libya might soon let foreign banks operate in the country again for the first time since banking was nationalised in 1969, Prime Minister Shokri Ghanem said yesterday.
"We are thinking about opening the door for foreign banks to operate in Libya in the near future," Ghanem said. "Once the principle is agreed, we'll see about the legislation."
The government also planned to offer shares of two state-owned banks to the public in a drive to attract private investment to reduce unemployment.
Libya has eight state-owned banks and one privately owned bank, which was created after a 1997 law authorising private banks. - Bloomberg, Tripoli
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