The Libyan Arab Foreign Bank

Libyan Foreign Bank (a Libyan Joint Stock Company) was established under lwa No. 18/1972, and is subjected to Law No. 1/2005 on banking, the commercial law and its amendments and related regulations.

The bank is a corporate body having independent financial status and its assets only consulting guarantee to its liabilities.

LFB operates through its head office in Tripoli - Libya. The purpose of the bank is represented in overseas investments and banking activities and complementary and related financial activities. The bank practices the activity of opening accounts and accepting deposits from abroad and non-residents, in addition to banking and financial transactions with commercial local banks and any related banking activities licensed by Central Bank of Libya.

LFB started exercising its activity in the year 1972 with a paid up capital of 20 million Libyan Dinars (equivalent to 67.4 million USD). At the beginning of the year 2006 the paid up capital of LFB has increased to 1 billion USD.

On 29/12/2009 the extraordinary meeting of shareholders of LFB decided to increase its capital to 2 billion USD as per decision No. 1 for the year 2009.

Furthermore, the extraordinary meeting of shareholders of LFB decided in its meeting dated 21/02/2010 to increase its capital with another 1 billion USD as per decision No.2 for the year 2010 and with this increase the paid up capital of LFB amounts to 3 billion USD with an authorized capital of 8.7 billion USD divided into 87 million shares at a value of 100 USD per share.