The Libyan Exchange Stock Market () officially opened in

Tripoli Tripoli or Tripolis (from , meaning "three cities") may refer to: Places Greece *Tripolis (region of Arcadia), a district in ancient Arcadia, Greece * Tripolis (Larisaia), an ancient Greek city in the Pelasgiotis district, Thessaly, near Larissa ...

Libya Libya, officially the State of Libya, is a country in the Maghreb region of North Africa. It borders the Mediterranean Sea to the north, Egypt to Egypt–Libya border, the east, Sudan to Libya–Sudan border, the southeast, Chad to Chad–L ...

, during March 2007.

Background

The Libyan Stock Market (LSM) was established by Decision No. (134) of the

General People's Committee The General People's Committee (, ''al-lajna ash-sha'biyya al-'āmma''), often abbreviated as the GPCO, was the executive branch of the government of Libya, during the existence of Muammar Gaddafi's Libyan Arab Jamahiriya. It served as the int ...

(GPCO), on June 3, 2006, to form a

joint stock company A joint-stock company (JSC) is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certifi ...

with capital of 20 million

Libyan dinar The dinar ( (); sign: LD in Latin, ل.د in Arabic; code: LYD) is the official currency of Libya. The dinar is divided into 1,000 dirhams (). It is issued by the Central Bank of Libya, which also supervises the banking system and regulates cred ...

s, divided into 2 million shares with a

nominal value In economics, nominal value refers to value measured in terms of absolute money amounts, whereas real value is considered and measured against the actual goods or services for which it can be exchanged at a given time. Real value takes into acc ...

of 10 LD per share. The first phase focused on introducing financial definitions and rules, the addition of several workshop courses, and a series of agreements with the

Amman Stock Exchange Amman Stock Exchange (ASE) is a stock exchange private institution in Jordan, based in Amman. History The ASE was established in March 1999 as a non-profit, private institution with administrative and financial autonomy. It is authorized to fun ...

and

Cairo & Alexandria Stock Exchange The Egyptian Exchange (EGX), Egypt's stock exchange, comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the chairman of the Egyptia ...

and the Egyptian Company for Clearance and deposit. Listed market securities include the National Mills and Fodder Company, the United Insurance Company, Bank of deserts, and the Libyan Insurance Company, Sahari Bank, and the Hay Alandalus Domestic Bank. The volume of subscription on July 2, 2007, totalled 49539

shares In financial markets, a share (sometimes referred to as stock or equity) is a unit of equity ownership in the capital stock of a corporation. It can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Sha ...

, with a total value amounting to 346.773 LD. A cooperation agreement was signed on 18 October 2007 by the Chairman of Administration and General Director of the Committee for Libyan Stock Exchange Market and the Director of the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. The agreement provides for training teams from the Libyan Stock Exchange in Tripoli and in London to enable them to run the stock market operations. In addition there will be regular reviews of the Libyan regulations and systems, to modernize them from time to time, and for seminars and conferences organized by the London Stock Exchange. In February 2011, the Libyan Stock Market closed following the eruption of the

Libyan Civil War Demographics of Libya is the demography of Libya, specifically covering population density, ethnicity, and religious affiliations, as well as other aspects of the Libyan population. All figures are from the United Nations Demographic Yearbooks ...

. It reopened on 15 March 2012. In 2014, it closed its operations again due to the

second Libyan civil war The second (symbol: s) is a unit of time derived from the division of the day first into 24 hours, then to 60 minutes, and finally to 60 seconds each (24 × 60 × 60 = 86400). The current and formal definition in the International System of U ...

and resumed operations in December 2023.

References

External links

Libyan Foreign Investment Board

Libyan Foreign Bank

Bank of Commerce and Development

Libya stock market

Stock Alerts Market
{{Authority control Organizations based in Tripoli, Libya Stock exchanges in Africa Economy of Libya 2007 establishments in Libya

Background

See also

References

External links