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Libya to open up banking sector

Country will soon open its banking sector to foreign investment and privatise state-owned financial institutions.

Libya will soon open its banking sector to foreign investment and privatise state-owned financial institutions.

The move will help attract capital to the country and preference will be given to Arab banks, Dr Shukri Ganem, Libya's prime minister, was quoted as saying in media reports.

The government will also privatise publically owned financial institutions. "Arab banks will be allowed to buy shares in these institutions," he said.

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