The establishment of a libyan bank in the caribbean one step closer


Prime Minister of Dominica, Honourable Roosevelt Skerrit has disclosed that the establishment of a Libyan Bank in the Caribbean Region is one step closer to becoming a reality. Prime Minister Skerrit made this disclosure at a Press Briefing held on Tuesday August 03rd, 2010 to update the nation on his recent trip to the African Continent, where he visited the Kingdom of Morrocco, Uganda and Libya. He said that while progress has been slow in the past, the Libyan Government has given them the commitment to fast track the implementation process.


‘On our further discussions with the Libyan Government, they’ve agreed on a number of things. First, to capitalize the Holding Company with an initial amount of US$100,000,000.00 and also the initial capitalization of the Bank to the tune of US$100,000,000.00,’ he said.


‘We expect a delegation from Libya to visit the region to discuss and finalize plans for the implementation of the Bank and the Holding Company. We are also expecting them to have discussions with the Governor of the Central Bank, among others,’ explained Prime Minister Roosevelt Skerrit.


The Dominican Prime Minister believes that private sector firms will have access to cheaper financing with the establishment of this bank.


He also commended Dominica’s Ambassador to Libya Mr. Emmanuel Nanthan, whom he said has been at the forefront of these arrangements and in constant contact with the Libyan authorities.

© 2012 SAT Telecommunications Ltd.

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