Top List of Banks in Libya

Libya's banking system represents the fastest-growing banking sector in the Middle East. Banks are gaining market share and contributing to economic development by diversifying the clientele base and increasing their financial intermediation role. The Libyan government has shown an interest in encouraging banking and has announced plans to introduce banking services to remote areas of the country. The Central Bank of Libya (CBL) is working to harmonize international accounting standards with its own. The CBL is also working on legislation that will allow foreign banks to open branches in Libya. Libyan oil has also contributed much to the growth of banks in the country since the cash exchange had to increase. This has seen some banks get out of their comfort zone since they started realizing an increase in foreign banks in Libya. 

Here are some banks that have made names for themselves in Libya.

Jumhouria Bank

Jumhouria Bank is 100% owned by the Libyan Government. Its mission is to encourage and promote the economic development of Libya by providing a wide range of wholesale and retail banking services to private, business, and corporate clients. Jumhouria Bank is licensed to conduct banking business in Libya.

The bank has at least 150 branches and is taking the lead in Libya as the highest employer with more than 6000 employees across their branches. Their total assets are LYD 11.63 billion(USD 25 billion)

National Commercial Bank

National Commercial Bank, known as AlAhli Bank, NCB, or AlAhli, is Libya's largest bank by assets. NCB's headquarters are located near the center of Tripoli on Omar Mukhtar Street. 

The bank has over 65 branches within Libya and one overseas branch in London. The bank is listed on the Tripoli Stock Exchange.

The Bank pioneered a number of firsts, including the issuance of bank cards and establishing the first ATM network in Libya. NCB provides banking services to both retail and corporate customers. Its total assets are estimated to be about LYD 83.97 BILLION (USD 18 billion)

Sahara Bank

Sahara Bank is a Libyan bank with headquarters in Tripoli. It is the largest and oldest commercial banking institution in Libya and is now one of the largest and most important banks in north Africa and the middle east. The bank has a network of almost 50 branches spread across Libya with employees that provide services in respective branches. its assets are said to be LYD 35.92 billion (USD 7.7 billion)

Wahda Bank

Wahda Bank is a commercial bank with branches in Tripoli and Benghazi. The bank offers products and services, including savings accounts, current accounts, term deposits, personal loans, business loans, credit cards, and collection of customer utility bills. The bank also acts as a money transfer agent for Western Union Money Transfer products. The bank has a network of 53 branches and several ATMs within Libya to serve its customers, however remote they are.

The bank's total assets as of 2018 stood at LYD 6.32 billion.

The Libyan Foreign Bank (LFB)

The Libyan Foreign Bank (LFB) was established in Libya in 1956 as the National Commercial Bank (NCB). In 1960, the bank changed its name to the National Commercial and Development Bank (NCDB), and in 1972 it became the Libyan Foreign Bank. The bank has a nationwide network of Tripoli, Benghazi, Sebha, Surman, and Misurata branches. The LFB is the first private sector bank registered in Libya. 

The bank offers corporate and investment banking, treasury, foreign exchange, commercial, and other financial advisory services. The bank recorded a total asset of LYD 83.97 billion(USD 18 billion) in 2012.

Central Bank of Libya (CBL)

Libya has a two-tier banking system. The Central Bank of Libya (CBL), the central bank, supervises the entire commercial banking sector. The CBL was established in 1955 and restructured in 1963 to assume one of the principal tasks of the National Oil Corporation, which is that of regulating the flow of oil revenues into the national economy. It handles internal monetary affairs, institutional policies, and credit policies. It maintains branches in Benghazi and Tobruk, and there is also the People's Committee office of the Central Bank in Derna. Its headquarters are in Tripoli. 

The bank has a total asset of around LYD 466.50 billion (USD 100.0 billion)

Al-Wafa Bank

Al-Wafa Bank is a Libyan bank. Al-Wafa is a microfinance bank that focuses on microfinance loans to small and medium enterprises and micro and retail banking services. The Libyan government founded the bank in 1989, but ownership was passed to private investors. As of 2011, it has 27 branches across Libya and about 700 employees. Currently, it offers services in Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking. Its total assets are estimated to be LYD 24.86 trillion (USD 53.3 billion)

Mediterranean Bank

Mediterranean Bank is Libya's private bank, offering a full range of financial services and products to meet personal, business, and commercial banking needs. Founded in 2004, Mediterranean Bank has grown to become one of the largest private banks in Libya. It includes sections such as banking and financial services, commercial banking, industrial banking, personal banking, business leasing, and development projects. Its current assets are estimated to be LYD 154.36 trillion (USD 330 billion)

Umma Bank

Umma Bank (s.s.c) was established in Tripoli in 2003 to provide banking services to all economic sectors and individuals. Umma Bank, Libya is one of the top banks in the private sector, providing a comprehensive range of products, services, and solutions that meet a variety of customer needs. Umma Bank is a government-owned regional bank headquartered in Tripoli, Libya. It is one of the country's oldest banks. It currently has an asset of close to LYD 200 billion.

Alejmaa Alarabi Bank

Alejmaa Alarabi Bank, formerly known as Libyan Arab Foreign Bank, is a commercial bank in Libya. It is licensed by the Central Bank of Libya, which is the national banking regulator. 

It is one of the older banks in Libya. The bank offers various services to its customers, such as savings accounts, credit cards, and loans. Its current asset is at LYD 124 billion.


What is Libyan currency?

Libyan Dinar: it is issued by the Central Bank of Libya and can be subdivided into 1000 Dirham. Currently, its currency to that of US Dollar is LYD 1- USD 0.21