Mon. Dec 23rd, 2024

Libyan Prime Minister Abdul Hamid Dabaiba announced on Monday the resumption of trading of shares in the Libyan stock market, after a 9-year hiatus.

Dabaiba said in his opening speech that the rebirth of the stock market is important in the development and the Libyan economy, according to a statement issued by his office.

Dabaiba added: “The return of work will contribute to reducing the burdens on the state’s economy, and consolidating the culture of trading among Libyans is the step that is being worked on.”

The chairman of the Libyan capital market, Bashir Mohamed Ashour, stated that “the suspension of trading over the past period is due to reasons beyond the control of the market, including security instability and political and institutional division.”

The Libyan financial market was closed in mid-2014 after the escalation of tension in the country and other technical reasons, which prompted the market management to stop trading, until the relative calm returns to the country.

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