Middle East Economic Survey


No 22



Libya To Open Its Banking Sector To Private Interests

In its attempt to liberalize its socialist style economy Libya has indicated that it plans to open its banking sector to private interests and foreign banks. Saif al-Islam al-Qadhafi, son of the Libyan leader Mu'ammar al-Qadhafi, told Reuters on 20 May during the World Economic Forum in Jordan, that Libya would partially privatize five banks over the next six months and allow...