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The Libyan Business Council (LBC) and the Libyan Industry Union (LIU) have revealed plans to establish a private sector finance and investment group. The group will include participants from the Central Bank of Libya, the Islamic Development Bank, the Ministry of Finance, the Privatisation and Investment Board, and the Al Baraka Insurance Company. During a preparatory meeting, it was agreed to form various committees, conduct research on financing mechanisms, establish investment funds, and hold a general conference to discuss proposals. The goal of the group is to fill the void left by the Libyan banking sector by financing and investing in companies and sectors to activate the private sector economy.
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