Libya’s stock exchange aims to list two new Islamic banks

The Libyan Stock Market (LSM) will witness a number of public offerings this year, including two Islamic banks, local sources reported.

A real estate investment fund offering is also in the pipeline along with a number of potential sukuk, the sources reported, citing Ahmed Karoud, the general manager of the Libyan Stock Market.

The stock market is expected to reopen within the next five months after being closed for six years because of the war in the country.

Karoud said that the Government of National Unity and Capital Market Authority are working to get the bourse ready to resume trading.

The Capital Market Authority is also reaching out to brokerage firms that have incurred large losses over the years to ensure their financial solvency, he said. Karoud expected the settlement of clearing conditions and their reactivation between the eastern and western regions soon, to overcome any financial.