Libya Herald reports that the Economy Minister, Mustafa Abufunas, has announced the establishment of a new financial regulation authority, and attended its first meeting.
He said that the new body will regulate all of the financial sector with the exception of the banking sector.
The General Manager of the Stock Exchange, Ahmed Karoud, said the Stock Market will have a very important role in supporting the financial sector authority and that the Stock Exchange was now complete with the creation of the regulatory authority, together with its listed companies and its brokerage firms.
This, the General Manager said, has added to the culture of investment in Libya and gives confidence to the Libyan financial sector and stock market.
(Source: Libya Herald)
(Financial regulation image via Shutterstock)