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BACB leads Banking and Finance session at UK-Libya business delegation to Tripoli

Posted on 16/11/2022

Trade Finance , Press Releases

BACB LBBC Tripoli delegation

Eddie Norton, CEO of BACB, introduces His Excellency Mr. Saddek El Kaber, Governor of the Central Bank of Libya, to address the delegates during the Banking and Finance session. Seated alongside the Governor are Assad Riyany, Head of Libya Desk Bank ABC, Salim Abukhzaam, Head of Treasury Sales BACB and Ahmed Sarkez, Tripoli Representative Office Manager BACB.

BACB joined the LBBC’s business delegation to Libya, held at the Corinthia Hotel, Tripoli.

CEO Eddie Norton led a delegation of British Arab Commercial Bank (BACB) colleagues in support of the Libyan British Business Council’s (LBBC) recent visit to Tripoli, Libya. This was the first LBBC visit since 2014.

On 8-9 November 2022, BACB representatives were among the delegates who travelled to Tripoli to meet with partners from across Libya’s business community. The delegation comprised a range of sectors, including healthcare, education, security, IT, energy and finance. Senior Libyan dignitaries attending included His Excellency Mr. Saddek El Kaber Governor of the Central Bank of Libya, and Farhat Bengdara, Chairman of the National Oil Corporation.

Workshops held at the Corinthia included one on Banking and Finance, this was preceded by a key-note speech from the Governor of the Central Bank of Libya, who described the economic and financial reforms taking place to strengthen the currency and mitigate inflation. During his address the Governor thanked BACB for the support given to the Libyan banking sector through the provision of a series of compliance-focused capacity building events.

The workshop following the speech was chaired by Eddie Norton, with panellists Salim Abukzaam and Ahmed Sarkez from BACB, and Assad Riyany from Bank ABC, describing the key developments in the banking sector and taking audience questions. During the discussion the importance of the local engagement by specialist international banks was highlighted as a key driver for financing and guaranteeing Libyan business.

The day’s events concluded with an evening reception for the UK and Libyan business communities, including a group of locally based British business representatives, hosted by His Majesty’s Ambassador to Libya Her Excellency Caroline Hurndall MBE.

The aim of the delegation was to establish productive and prosperous business relationships, a core goal for the British Embassy in Libya, the LBBC and BACB. It is hoped the new partnerships forged from this visit will expand further trade and investment between the UK and Libya, creating opportunities in both countries.

Chairman of the LBBC, Peter Millett said: “I am delighted that the LBBC is here in Tripoli for the first time in 8 years and has received an extremely warm and encouraging reception from Libya’s economic institutions and business sector. We will build on this important start and aim to visit Benghazi in the near future and to return to Tripoli next year with another major delegation. In short, British Business is ready to help rebuild Libyan infrastructure, help to modernise the energy sector and cooperate with the private sector in Libya.”

“BACB is proud to be part of the Libyan British Business Council. We have been working with Libya for over 50 years, facilitating trade between the UK and Libya,” said BACB CEO Eddie Norton. “It was an honour to join the LBBC’s delegation to Tripoli and to help strengthen the UK’s ties with Libyan business. After meeting with representatives and delegates, it’s clear that Libya is open for business. We share the commitment of both the LBBC and the British Embassy in Tripoli in supporting trade with this promising market.”

Peter Hampson, Head of Marketing and Communications for BACB noted: “It has been my privilege to be part of this delegation. Libya is a remarkable country with enormous potential, offering huge opportunities. I have received an incredibly warm welcome from the people I have met here and look forward to returning to Libya to further strengthen the relationships built.”

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