Stock Market / Finance in Libya
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EUROPEAN UNION, 2015/11/21
The Maghreb Bank for Investment and Foreign Trade (Bcmice) will be operational by the end of December in Tunis, Rabat Kouider Lahoila, expert of the direction of economic affairs at the Arab Maghreb Union (AMU), has announced. He stressed that UMA taking a concrete step in the financial sector signified evolution for it.
This is good news for Maghreb states, businessmen and entrepreneurs who will thus gain access to a new funding source for their activities. The new bank, with a capital of 500 million dollars, will have as a fundamental mission to finance projects promoting common infrastructures for the five UMA member states - Algeria, Morocco, Tunisia, Libya and Mauritania - develop commercial exchanges within the Maghreb area, considering the strong potential of a market of 90 million consumers.
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LIBYA, 2014/04/24
The financial commission at the Libyan National General Congress (NGC, Parliament) on Tuesday examined how to repatriate Libyan funds stashed way in foreign nations by the regime of the late Mouamar Kaddafi, estimated at some US$200 billion.
At a conference with a delegate from the central bank of Libya (BCL), the parliamentary commission discussed mechanisms to repatriate the funds, the online newspaper, al-Wassat, reported.
A commission under the supervision of NGC in charge of monitoring the looted funds abroad estimates that US$200 billion has been hidden in Europe, Africa and Asia.
