The Bank of Commerce and Development (BCD) named nine Libyan and Qatari board members at its annual meeting last month.

The General National Congress (GNC) has approved a decision to cancel tax on state pensions, amending a 1980 law on social security.

The Central Bank of Libya (CBL) has again put back its deadline for exchanging the old series of 5 and 10 Dinar banknotes, which is now set at 18 July.

The bank plans to convert into a fully Islamic lender in order to comply with the recently-amended banking law.

 A new LD50 ($39) banknote will enter into circulation from 13 June, says the Central Bank of Libya (CBL).

The Libyan government earned some LD70.1bn ($56.1bn) in income last year, according to state figures, with oil revenues reaching their highest-ever levels.

The Central Bank says a new LD50 ($39) note will be introduced next month as part of ongoing changes being made to the local currency

Double-digit annual increases in assets, deposits, revenue and profits as the banking sector continues to recover from the 2011 conflict, although growth is levelling off.

The Central Bank of Libya (CBL) has signed a cooperation agreement with the International Centre for Education in Islamic Finance (INCIEF) to provide technical support for Islamic finance.

Gumhouria Bank, Libya's largest lender by asset size, has specified the dividend it will pay from its 2010 profits.

A group of Libyan banks and financial institutions recently held the first Islamic banking conference in Tripoli.

The General Electricity Company (GECOL) has signed a contract with the state-controlled Libya Insurance Company to provide coverage to its employees.

The governor of the Central Bank of Libya (CBL) recently expressed interest in receiving technical assistance from the European Bank for Reconstruction and Development (EBRD).

The governor of the Central Bank told Bloomberg that Libya was seeking to reobtain credit ratings from international agencies, and that licenses to foreign banks would only be issued after a new constitution was ready.

Wahda Bank, which is part-owned by Jordan's Arab Bank, is the latest Libyan lender to say it will convert into a sharia-compliant bank.