The Board of Directors of the private sector bank, Imaar Bank, held its first meeting last Thursday, 18/09/2025 in the city of Derna.
At the meeting, the Board unanimously agreed on the:
– Selection of the Chairman and Vice Chairman.
– Nominating the Director General.
– Taking several important administrative and organizational measures.
The bank said these steps come within the framework of completing the basic requirements for start-up, in preparation for the start of the bank’s work within a period not exceeding four months.
From the Digital Bank to Imaar Bank
It will be recalled that Imaar Bank was formerly known as the Digital Bank until March/April this year. It was founded by the famous pioneering Libyan banker, Jamal Abdelmalik in October 2022. Abdelmalik was credited with being the first banker to introduce e-services at banks in North Africa and Libya as chairman of the Bank of Commerce and Development.
However, Abdelmalik was subsequently forced to withdrawal from the chairmanship of the Digital Bank after the Central Bank of Libya refused to grant him permission to practice as a banker.
This forced the Digital Bank Board to choose a new chairman. The Board also decided to change the bank’s name to Imaar Bank.
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