Libyan Foreign Bank

Infobox Company
name = rtl- _ar. المصرف الليبي الخارجي Libyan Arab Foreign Bank
company_
type = Public Company
foundation = 1972
founder =
location_city = Tripoli Dat El Imad Administrative Complex
location_country = flagicon|LibyaLibya
location =
locations =
key_people = Mohamed H. Layas (Chairman and General Manager)
area_served =
industry = Finance
products =
services = Financial Services
revenue = profitUSD$168 million (2004)
operating_income =
net_income =
num_employees =
parent = Central Bank of Libya
divisions =
subsid = Banque commerciale du Niger
slogan =
homepage = [http://www.lafbank.com/ www.lafbank.com]
dissolved =
footnotes =
intl =

The Libyan Arab Foreign Bank (LAFB) was established in 1972 in Tripoli, Libya as the country's first offshore banking institution licensed to operate internationally. The bank is 100% owned by the Central Bank of Libya.

Operations Overview

LAFB encompasses a variety of services and operators facilitating international trade, money flows for investment and payment, and loans to government and official institutions as well as to the private sectors. Its valum in the international markets is relatively concentrated on services, including insurance and confirmation of letters of credit, creation of acceptance credits, and supply of foreign exchange. In their 2007 ranking of "Africa's Top 100 Banks", the magazine "African Business" placed LAFB at number ten for Africa as a whole and fourth in the North Africa region. They went on to say that the ranking of the Libyan Arab Foreign Bank may actually be understated, given that the most up to date figures available for the bank were two years older than those of many of its North African rivals. [African Business (2007) p.22]

Notes

References


*Energy Information Administration (2007) [http://www.eia.doe.gov/emeu/cabs/Libya/pdf.pdf "Libya: Country Analysis Brief"]
*World Bank (2006), [http://siteresources.worldbank.org/INTLIBYA/Resources/libyacountryeconomicreport.pdf "Libyan Arab Jamahiriya: Economic Report"] , Social & Economic Development Group: MENA Region
*"African Business", October 2007
*The Banker [http://www.thebanker.com/news/fullstory.php/aid/3350/LIBYA.html Libya]

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