No Result
View All Result
Sunday, July 13, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya Enterprise to discuss barriers to SME finance with local banks

bySami Zaptia
February 23, 2016
Reading Time: 2 mins read
A A
Libya Enterprise to discuss barriers to SME finance with local banks

SMES / Libya Enterprise (Logo: Libya Enterprise).

By Sami Zaptia.

Libya Enterprise to discuss with banks barriers to SME finance (Logo: Libya Enterprise).
Libya Enterprise is to discuss with local banks barriers to SME finance (Logo: Libya Enterprise).

London, 23 February 2016:

Libya Enterprise, the Ministry of Economy department charged with developing Small and Medium Sized Enterprises (SME) in . . .[restrict]Libya, held a meeting in Tripoli yesterday to discuss local bank finance for SMEs.

The meeting included the Incubator Department and the Business Centre as well as the Finance Follow-up department of Libya Enterprise.

The issue of better quality SME feasibility studies formulated by the Business Centres was also discussed.

RELATED POSTS

Presidency Council head Menfi calls for referendum by Libyan people on contentious points of draft constitution

Finance and Business Exhibition: Benghazi 5 to 7 January 2025

The meeting formed a working team to meet local banks to look into the various barriers to the availability of SME finance and the conditions stipulated by banks in order to facilitate SME finance.

It will be recalled that the rebranded SME department (Libya Enterprise) has been attempting since the Qaddafi era to achieve a major launch of SME activity that would have a sizable role in Libya’s economic growth.

Equally, the serious development of an active SME sector in Libya with its large youth demographic is hoped to have a notable effect on youth and university leaving unemployed.

Politically, and in view of Libya’s current political, financial and military problems, an activated SME sector is seen as a major part of militia Demilitarization, Demobilization and Reintegration (DDR).

However, the major spanner in the wheel since the Qaddafi era has been the banking laws and regulation which under the previous regime gave all the protection to the debtor and not the bank.

As a result, the cash-rich Libyan banks have preferred to sit on their huge cash deposits and lend to the state rather than risk lending to consumers.

It is hoped, however, that with the post-2011 revolution activation of both the National ID Number and the Credit Check system, and with some amendments to banking laws, Libyan banks would be more willing to play their normal role of providing finance to the business sector in general and SMEs in particular.

It is not expected that any such reform would take place prior to Libya exiting its current transitional political stage and after a constitution is agreed and full elections are held. The best estimate for this is one to two years from the date of the installation of a Government of National Accord (GNA).

At the time of writing, the GNA is currently being hammered out and the House of Representatives are to vote on its proposed cabinet. [/restrict]

Tags: bankconstitutionelectionfeaturedFinanceGNAlawsLibya EnterpriseSME Small and medium sized enterprises

Related Posts

CBL receives results from meetings with international banks
Business

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

July 11, 2025
Preparations for the second ‘‘Made in Libya’’ edition in Niamey, Niger progressing
Business

“Made in Libya” exhibition to be held in Benghazi from 10 to 13 August

July 11, 2025
Sirte and BACB to improve cooperation
Business

Sirte Oil completes drilling of horizontal well in Zilten field producing 1,985 bpd using local cadres

July 11, 2025
Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges
Business

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

July 10, 2025
Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions
Business

Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

July 10, 2025
NOC announces force majeure at Zawia port
Business

Libyan Fertiliser Company’s urea plant achieves a 95 percent production rate

July 10, 2025
Next Post
BREAKING: Benghazi’s Sabri and Suq Al-Hout reported taken

BREAKING: Benghazi’s Sabri and Suq Al-Hout reported taken

Half a million new e-passports arriving by early March

Half a million new e-passports arriving by early March

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • Aldabaiba opens First Phase of Tripoli’s Third Ring Road

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.