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Country Report Libya Product Image

Country Report Libya

  • ID: 2101513
  • September 2014
  • Region: Libya
  • 25 Pages
  • The Economist Intelligence Unit

Masraf al-Rayan confirmed on September 23rd that it is suspending its plans to buy a stake in an unidentified Libyan commercial bank until political conditions improve.

Masraf al-Rayan, a Qatar-based Islamic bank, announced plans in early 2013 to buy a strategic stake in an unidentified Libyan bank. In a bourse filing on September 23rd, it said it had put the deal on hold "until further notice or till positive indications in the field of investment in Libya are evidenced".

This marks a turnaround in the bank's plans. In April last year, the group chief executive, Adel Mustafawi, said the bank would be signing a Memorandum of Understanding with its partners before proceeding to secure the required approvals from the concerned authorities in both Qatar and Libya. In February 2013, Rayan shareholders had approved plans to buy a stake in a Libyan lender.

Country Report Libya

Qatari bank halts Libya investment plan
Impact on the forecast

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