The Libyan Stock Exchange resumed trading today, Monday, in one of the halls in the capital, Tripoli, after being suspended for more than nine years due to the political and security situation in the country. Prime Minister of the National Unity Government, Abdul Hamid Dbeibeh, along with the Chairman of the Stock Exchange, Bashir Mohamed Ashour, and other officials rang the bell to announce the resumption of trading.
A source mentioned today that the stock exchange has another trading hall in Benghazi, Libya's second-largest city, where trading is expected to resume next week. Dbeibeh stated that the stock market is "one of the means to improve the Libyan economy." He added that the significance of the stock market lies in "doubling local production and bridging the budget deficit," which would alleviate the burden on the state's general budget.
Ashour noted that the success of the market depends on the stability and development of various sectors of the state, adding that the stock exchange will strive to increase the volume of listings. The Libyan Stock Exchange began its activities in 2006 but halted trading for over 12 months after the fall of Muammar Gaddafi's regime during the NATO-backed uprising in 2011. During the civil war between competing armed factions for power in 2014, the stock exchange ceased its activities once again. That same year, the oil-producing country was divided between two warring factions in the east and west.
