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After more than nine years of closure due to political and security concerns, Libya’s Stock Market reopened for trading last Monday. The stock market also maintains a trading hall in Benghazi, Libya’s second city, where trading is expected to commence next week. Out of the ten companies listed on Monday’s trading schedule, only three actively participated in trading.
After more than nine years of closure due to political and security concerns, Libya’s Stock Market reopened for trading last Monday. The stock market also maintains a trading hall in Benghazi, Libya’s second city, where trading is expected to commence next week. Out of the ten companies listed on Monday’s trading schedule, only three actively participated in trading. The stock market, launched in 2006, faced interruptions following the fall of the former regime of Col. Gaddafi during the NATO-backed uprising in 2011. The resumption took place in the capital, Tripoli, with Prime Minister Abdulhamid al-Dbeibah of the Government of National Unity and the Chairman of the Board of Directors, Bashir Mohamed Ashour, along with other officials ringing the bell to signify the restart of trading activities.
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The stock market faced interruptions in 2011, leading to a suspension of trading for over 12 months. Subsequently, during the civil war in 2014, marked by conflicts between armed factions vying for power, trading was once again suspended. The same year, the major oil-producing nation in North Africa became divided between warring eastern and western factions.
