The Libyan Business Council (LBC) and the Libyan Industrial Union (LIU) plan to establish a finance and investment group. LBC and LIU are private sector associations and lobbying organizations.
The news was revealed by LBC on Wednesday after a preparatory meeting was held on the same day hosted by LIU.
LBC reported that the Finance and Investment Group will include the following members:
- Central Bank of Libya.
- Islamic Development Bank.
- Ministry of Finance.
- Privatization Investment Board (PIB).
- Al Barakah Insurance Company.
LBC further reported that the following was agreed during the meeting:
- Establish a supreme committee, subcommittees, technical committees, finance committees, communications committees, and service committees.
- We are researching funding mechanisms.
- Establishment of an investment fund.
- A general meeting will be held to discuss the series of proposals discussed at the preparatory meeting.
Over the past year, LBC has been in talks to create a private sector finance and investment company to fill the void left by Libya's banking sector by lending and investing in companies and sectors to boost the private sector economy. will be remembered.
The company will be open to all interested investors and will be led by capital from members of LBC and LIU.