Dubai: The Governor of the Central Bank of Libya to Libya's reserves of foreign exchange at the end of 2008 amounted to 136 billion dollars.
He said that the commercial banks to deal in connection with the services and the Islamic Bank of the Republic began to provide this service and the Commercial Bank and the Trade and Development Bank and the deserts of dealing in connection with the opening of the Islamic services.
He added in his report in the "statement" that the Bank of the UAE commercial banks, the Libyan Investment Corporation intends to fund the establishment of an investment worth 20 billion dinars, part of the fund will subscribe to the private sector to fund a promising business sectors. He also announced the launch of 15% of the Bank of the Republic of the private sector and the issuance of licenses for the establishment of foreign banks or with the participation of Libya in Libya in 2010.
He pointed out that the volume of bad debts up to one billion dinars in the past been granted to the private sector and loans to housing associations, as well as the local marketing companies and that there is extensive meetings with the Secretariat of Finance to discuss the debt so that the percentage of the volume of debt of 35% to about 20.4%, and the governor added that the Bank of Libya Central has developed a campaign of action to modernize and develop the banking sector from the sale of shares of the Bank of deserts to the foreign investor as well as the Bank of the unit, pointing out that the Monetary Policy Committee will consider at its next meeting in the interest rate to commercial banks.
He said that the commercial banks to deal in connection with the services and the Islamic Bank of the Republic began to provide this service and the Commercial Bank and the Trade and Development Bank and the deserts of dealing in connection with the opening of the Islamic services.
He added in his report in the "statement" that the Bank of the UAE commercial banks, the Libyan Investment Corporation intends to fund the establishment of an investment worth 20 billion dinars, part of the fund will subscribe to the private sector to fund a promising business sectors. He also announced the launch of 15% of the Bank of the Republic of the private sector and the issuance of licenses for the establishment of foreign banks or with the participation of Libya in Libya in 2010.
He pointed out that the volume of bad debts up to one billion dinars in the past been granted to the private sector and loans to housing associations, as well as the local marketing companies and that there is extensive meetings with the Secretariat of Finance to discuss the debt so that the percentage of the volume of debt of 35% to about 20.4%, and the governor added that the Bank of Libya Central has developed a campaign of action to modernize and develop the banking sector from the sale of shares of the Bank of deserts to the foreign investor as well as the Bank of the unit, pointing out that the Monetary Policy Committee will consider at its next meeting in the interest rate to commercial banks.
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