Libyan Foreign Bank (LFB) opened an office in Misrata Free Zone (MFZ) Wednesday, in the presence of the MFZ Chairman, Mohsen Al-Sigutri, several LFB Board members and representatives of the bank, and in the presence of a group of workers in the banking sector in Misrata.
Speaking exclusively to Libya Herald, the Director of the MFZ Media Office, Aladdin Baba, said the importance of opening an office representing the LFB, which is specialized in conducting foreign banking operations, and the fact that the MFZ contains several foreign companies that deal in various foreign currencies, facilitates the various banking operations of these companies. The bank shall have an office with which these companies deal, so that it is easier for them to obtain various external banking services within MFZ without incurring the trouble of searching for a bank to obtain these services from outside.
Baba added that the LFB is considered one of the most important financial and banking institutions because of its extensive experience in the fields of finance, investment, and international financial transactions, which would provide added value through its office in the MFZ. He noted that this office is the first LFB office to open outside the Tripoli which will provide its services to the central region in addition to the investors and entities operating in the MFZ.
He said the MFZ has been interested for quite a while in opening the LFB office within it, in implementation of the vision and strategy of the region in cooperation with institutions that would provide quality services and added value to its investors, in a way that serves the main goal of supporting the national economy.
Seeking other local and an international bank
Finally, Baba said that there is a plan to open bank branches for a number of other Libyan banks within the region to provide various services to companies present and operating within the region. He hoped these can provide an atmosphere conducive to banking work, especially with the availability of appropriate buildings, technical equipment and supporting logistical services. He also revealed that the MFZ seeks to open branches and offices of an international bank after obtaining permission from the Central Bank of Libya to work in the MFZ, especially from the nationalities of companies currently working on projects within it.
