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Saturday, March 2, 2013

Mar2: #Libya may issue bonds, central bank, in order to help banks in the country

#Libya may issue bonds, central bank, in order to help banks in the country
Mar 2nd 2013, 23:56

Aisha Mansurey ‏@WORLDLOVERPEACE #Libya may issue bonds, central bank chief says | Business , Middle East | THE DAILY STAR http://www.dailystar.com.lb/Business/Middle-East/2013/Mar-01/208334-libya-may-issue-bonds-central-bank-chief-says.ashx … Expand   Reply   Retweet   Favorite  Buffer    More Libya may issue bonds, central bank chief says March 01, 2013 01:48 AM ABU DHABI: The Libyan government may issue bonds in order to help banks in the country by giving them access to tradable financial instruments, Libya's central bank governor Saddek Omar Elkaber said Thursday. "We don't need to raise money through selling bonds but may issue sovereign bonds to boost investment banking and create a market," he said. Unlike other countries which went through Arab Spring uprisings, Libya is rich because of its oil reserves and accumulated oil earnings. Elkaber said the central bank's foreign reserves, including cash and liquid instruments, now totaled $160 billion. He said the government had been focusing on improving security since the 2011 ouster of Moammar Gadhafi. "There's a plan to issue three licenses for Islamic banks. Some conventional banks now have Islamic windows but there is a huge need for Islamic products. We're still in the brainstorming stage and will be ready soon. Read more: http://www.dailystar.com.lb/Business/Middle-East/2013/Mar-01/208334-libya-may-issue-bonds-central-bank-chief-says.ashx#ixzz2MQiS9BBT (The Daily Star :: Lebanon News :: http://www.dailystar.com.lb) - See more at: http://www.dailystar.com.lb/Business/Middle-East/2013/Mar-01/208334-libya-may-issue-bonds-central-bank-chief-says.ashx#axzz2MQiPlv9O

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