Tag Archives | BNP Paribas

Jumhouria Bank on Mortgages and SME Loans

By Osama Humaydan. In the recent speech, Mr. Akkari, chairman of Jumhouria Bank, the largest bank in Libya, noted that the upcoming period will witness major developments by the Central Bank of Libya. These developments are related to new products and services, and, most importantly, to housing loans, which will be given out to those […]

Libya Seeks Explanation for $1bn Derivatives Loss

Libya is demanding an explanation from France's Societe Generale (SocGen) on how its sovereign wealth fund lost about $1 billion on derivative contracts. Mohsen Derregia, the outgoing chairman and chief executive officer of the Libyan Investment Authority (LIA), told Bloomberg: "We have been in contact a number of times but have not received a satisfactory […]

Libya Selling Off BNP Paribas, Societe Generale

Bloomberg reports that Libya’s Economic and Social Development Fund is withdrawing investments from French banks including BNP Paribas and Societe Generale (SocGen) as it shifts attention to its home market. At a conference in Dubai today, fund chairman Mahmoud Badi said the state-held fund, which has $12 billion in assets, had about $10 billion invested […]

Employees Protest for Sharia Banking

A number of employees at a branch of Sahara Bank in Benghazi have held a demonstration outside the bank to protest against its use of interest. They demanded that the bank start using Sharia-compliant banking methods. According to the Libya Herald, none of Libya’s major banks are Sharia-compliant, but the Governor of the Central Bank, […]