Banking & Finance

Libya's state budget for 2012 was underspent by around LD13.2bn ($10.6bn), according to the body tasked with monitoring government finances, but additional extra-budgetary spending reached LD10bn ($8bn).
The Central Bank of Libya (CBL) has again pushed back the deadline for accepting old series of 5 and 10 Dinar banknotes, which must now be exchanged before 31 March.
The combined annual profits of Libya's commercial banks recovered strongly to reach LD572m ($458m) last year,  but still remained well below 2010 levels.
According to the local media, a group of Sahara Bank employees have held a protest to demand that the company's management be replaced.
The Bank of Commerce and Development (CBD) will hold an extraordinary general meeting later this month to discuss amending its statutes in the wake of changes to the 2005 banking law.
The Central Bank of Libya (CBL) says that banking operations have been disrupted in certain areas of western Libya due to a telecoms breakdown.
Mohamed Magarief, the president of Libya's national assembly, has held meetings with IMF representatives visiting Libya.
The Libyan Investment Authority (LIA) says it is cooperating with the US authorities on an investigation into its dealings with Goldman Sachs.
The head of the Central Bank of Libya says the government may issue sovereign bonds, and expects to award three Islamic banking licenses.
The acting chairman of the Libyan Investment Authority (LIA) has been removed from his position by the fund's board of directors, but says he will contest the decision in court.
Libya's national assembly has discussed the proposed state budget for this year.
National Union Engineering Consultants, a state-controlled firm which is listed on the Tripoli bourse, says it made a profit of LD32,800 ($26,200) last year.
Shareholders in Qatar's Masraf Al Rayan have approved the proposed purchase of a stake in an unnamed Libyan commercial bank, indicating that the new entity will be the first fully Islamic lender in the country.
The Minister of Finance reports that the government has restarted the payment of grants to Libyans who fought in the 2011 conflict, after having reviewed and checked the list of those eligible to receive the money.
The Central Bank of Libya (CBL) completed a sale of 1-month and 3-month Certificates of Deposit on 19 February.