Ahmad 
The Libyan Investment Authority is considering opportunities to break into the Egyptian banking sector in the coming period by owning a commercial bank, according to sources.
The Libyan sovereign wealth fund, or the Libyan Investment Authority, is looking into the possibility of acquiring an Egyptian bank in full or with a large share, while the sources refused to disclose to the Egyptian newspaper what it is.
The Libyan Foreign Bank, owned by the Central Bank of Libya, owns a 27% stake in Egypt’s Suez Canal Bank.
A fierce race is raging between several parties to acquire the United Bank, which is owned by the Central Bank of Egypt.
The United Bank is part of Egypt’s government’s plan to exit the economy and sell its assets, including listing shares of state-owned companies on the stock exchange or selling stakes to strategic investors, or both.
Libya is the Arab country that has been importing the most Egyptian goods last year.
Egyptian exports to Libya recorded a remarkable jump during 2023, rising to about $ 1.621 billion during the period from January to the end of November last year, compared to about $ 1.085 billion during the same period last year, an increase of $ 536 million, recording an increase of 49.4%, according to data issued by the Egyptian Central Agency for Public Mobilization and Statistics last March.
The Libyan city of Traghen faces a devastating fire disaster