🇱🇾LibyaNorth Africa
Central Bank of Libya Governor Naji Issa attends Paris finance forum
via Libya Herald1 min read
Naji Issa, Governor of the Central Bank of Libya, participated in the France-Libya-France Finance Forum in Paris. The forum brought together officials and representatives from financial, banking, and economic institutions from both Libya and France. Discussions focused on enhancing financial and economic cooperation, developing banking and investment partnerships, international financial connectivity, and innovation in financial services. The event also aimed to expand cooperation between Libyan and French banking institutions. These meetings are crucial for fostering direct dialogue, strengthening mutual trust, and clarifying the state of Libya's banking and financial system. This collaboration is expected to support economic and investment cooperation and facilitate more effective partnerships in the financial and banking sectors between the two countries.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Libya Herald.
Mahmoud Al-Furjani, Director General of the National Development Agency NDA, hosted Thierry VALLAT, the Ambassador of France to Libya, at the NDA headquarters in Sirte. The Ambassador was accompanied by a delegation from the Regional Economic Department, Business France, and representatives from three French companies specializing in sports infrastructure, medical transport, and sustainable agriculture. The visit, which included the Mayor of Sirte, Mukhtar Al-Maadani, and the President of the University of Sirte, Suleiman Al-Shater, focused on enhancing cooperation and supporting the Municipality and University of Sirte, aligning with the "Libya 2030 Vision." The delegation toured NDA projects in central and southern Libya, including Sirte Gulf International Airport, Sirte Free Zone Port, Sirte International Stadium, and the "Al-Bunyan Al-Marsous" Bridge, which is being executed by a French company. Technical briefings were provided by NDA engineers and contractors, and side meetings explored cooperation opportunities in various sectors. The French Embassy reported that the visit highlighted the NDA's efforts in Sirte's reconstruction and development, and facilitated discussions on future French-Libyan cooperation to support sustainable development and economic partnerships.
The Benghazi Chamber of Commerce will host a workshop on July 25 focusing on the launch and sustainability of the first tranche of investment Sukuk, also known as Islamic bonds. The event, supported by the Libyan Stock Market and the Libyan Stock Market Authority, aims to educate investors and business leaders on Sharia-compliant financing mechanisms. The workshop will cover the legal, technical, and Sharia-compliant aspects of bond issuance, with the goal of facilitating private sector access to modern financing instruments for sustainable development in Libya. Amwal Financial Brokerage Company is also participating. The workshop will feature a specialized session led by experts to discuss the practical aspects of issuing investment Sukuk and their potential for financing projects and fostering economic development.
Suhail Abu Shiha, the Tripoli-based Libyan Minister of Economy and Trade, issued Decision No. 374 of 2026 to regulate the registration of reinsurance companies, their branches, and representative offices with the Insurance Supervisory Authority. This decision also sets guidelines for interactions among insurance companies in Libya. The Ministry stated that this comprehensive reform addresses a legislative gap of over two decades, establishing clear rules for reinsurance companies dealing with the Libyan market. It links their operations to solvency standards, international credit ratings, and institutional control. The Ministry believes this will enhance the efficiency and financial stability of the insurance sector by setting controls for risk distribution and reducing concentration. This initiative is part of the Ministry's institutional reforms to update economic and financial legislation, aligning Libya's regulatory environment with international standards to boost investor confidence. The decision is expected to improve governance and transparency, protect insured rights, strengthen national insurance companies, and enable the national economy to manage major investment risks.