Banking & Finance

The Bank of Commerce and Development (BCD) saw strong growth in assets in 2012, though its annual profits were weaker than in 2008 and 2009.
The five member states of the Arab Maghreb Union have agreed to set up a new investment bank with a capital of up to $100m (LD125m).
Libya's General National Congress has voted to approve a law that bans the charging of interest on loans to individuals, with the same rules set to apply to companies from 2015.
National Commercial Bank, one of Libya's largest lenders, has named a committee to advise on sharia compliance.
The Libyan Stock Market (LSM) ended 2012 with a total market capitalisation of LD4.1bn ($3.3bn), roughly similar to its value when it resumed trading in March last year.
The Central Bank of Libya (CBL) has pushed back the deadline for accepting old series of 5 and 10 Dinar banknotes, which were due to go out of circulation on 31 December 2012.
In line with an earlier decision, The Central Bank of Libya (CBL) says that two issues of 5 and 10 Libyan Dinar banknotes will no longer be accepted as legal tender.
The board of the Central Bank of Libya (CBL) has approved proposals made by an Advisory Committee on Islamic banking, which included regulations governing Islamic finance in Libya.
The management of the Libyan Stock Market (LSM) is seeking greater transparency and information disclosure from listed companies.
The UAE-based Arab Orient Insurance says it will pick up its pre-2011 plans to enter the Libyan market.
Trading on the Libyan Stock Market (LSM) resumed on 19 December after being suspended for more than a week due to technical problems.
Trading on the Libyan Stock Market (LSM) has been suspended due to "technical problems", with the bourse expected to reopen by the end of the week.
Wahda Bank, Libya's second-largest lender, plans to offer sharia-compliant murabaha financing on car purchases.
The total assets of Libya's commercial banks remained flat in the third quarter of 2012, but lending has risen throughout the year and the banking sector retains high levels of liquidity.
The Central Bank of Libya (CBL) says that new Libyan Dinar banknotes will enter into circulation from the end of January 2013.