The banking expert, Haytham Al-Abidi, confirmed during a televised interview for Libyan WTV channel and Tabadul Platform, that the finance and banking sector suffers from weaknesses in the efficiency of the credit management.<\/p>\n\n\n\n
Al-Abidi said a decline in profit of about 56% has been registered during the second quarter of 2020, compared to the second quarter. <\/p>\n\n\n\n
“The quantum leap registered in 2017 was due to currency appreciation and high foreign sales services.” He said.<\/p>\n\n\n\n
” There is a high concentration in the banking market… As monopolization becomes higher, services and quality become lower in these banks.” The banking expert confirmed.<\/p>\n\n\n\n
” During the second quarter of 2020, the clearing accounts rose about 50 %, while the debt ratio reached 21% against the global rate, which is estimated at 5 %.” he added.<\/p>\n\n\n\n
According to the expert, the economic growth is linked to the volume of funding and its means. Nevertheless, the banks have assets exceeding 70 billion, which is a great source of financing in the development process and the economic growth as well.<\/p>\n\n\n\n
Al-Abidi added that the banking concentration was found in 4 state-owned banks, or only a part of them belonging to the state. These banks are; the Jumhouria Bank, the National Commercial Bank, the Wahda Bank and the Sahara Bank.<\/p>\n\n\n\n
“According to the World Bank’s latest statistics, the financial and banking sector in Libya represents about 80 % of the financial industry.”<\/p>\n\n\n\n
“The sector is composed of specialized commercial banks, in addition to non-banking financial institutions. We have 19 banks, 4 of which are specialized and are not subject to the Central Bank’s supervision. We also have 2 Executive Offices for Arab and foreign banks, in addition to 9 non-banking financial institutions.” Haytham Al-Abidi said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The banking expert, Haytham Al-Abidi, confirmed during a televised interview for Libyan WTV channel and Tabadul Platform, that the finance and banking sector suffers from weaknesses in the efficiency of the credit management. Al-Abidi said a decline in profit of about 56% has been registered during the second quarter of 2020, compared to the second quarter. “The […]<\/p>\n","protected":false},"author":1,"featured_media":37029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9271],"tags":[10835],"class_list":["post-32816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-banking-sectorbanking-servicescurrencyeconomic-growthlibyamonopolization"],"_links":{"self":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts\/32816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/comments?post=32816"}],"version-history":[{"count":0,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts\/32816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/media\/37029"}],"wp:attachment":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/media?parent=32816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/categories?post=32816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/tags?post=32816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}