The Libyan Stock Market has announced the completion of all technical preparations to resume trading in both Tripoli and Benghazi trading halls, as reported by Libya’s Sada newspaper.
Trading will resume for several entities listed in the Libyan Stock Market, spanning sectors such as banking, investment, and insurance. These sectors have met all the requirements for resuming trading in their financial instruments, after a hiatus of over nine years.
Ahmed Karoud, the General Director of the market, stated that a decision has been issued regarding the guidelines for reopening trading.
These include precautionary measures to control price limits for each security, and for intervention in case of exceeding these limits (upwards or downwards).
The trading window will be limited to three days per week, from 10 AM to 12 PM, for a month as an exploratory phase, subject to extension.
A press conference is scheduled for Monday, to announce the official commencement of trading in the stock market hall in Tripoli.
It is expected to be attended by Prime Minister of the Government of National Unity (GNU) Abdel-Hamid Dbaiba, the Minister of Economy and Trade, Mohamed Al-Hwaij and various stakeholders in the financial and investment sectors.
In another context, Prime Minister of the Libyan Parliament-designated government, Osama Hammad urged the Parliament to “swiftly enact legislation criminalizing speculation in the economy, to align with the overall plan to regulate prices.”
Hammad stated that since taking office, the Libyan government has been “committed to providing a decent life for Libyan citizens across the nation. The Libyan government aims to ensure all citizens’ rights, including access to essential goods at reasonable prices, aligned with income levels and developmental plans.”
Hammad called on the Attorney General’s Office to “supervise and monitor all relevant regulatory authorities, directing them to enforce price regulations and apply the law to violators”
The government has implemented several measures, with the latest being Decision No. 40 of 2023, determining prices for certain food items.
The PM specified the maximum prices for essential goods, and tasked relevant judicial control officers with monitoring violations and taking swift actions to ensure effective enforcement.
He urged all economic monitors in municipalities to oversee the implementation of comprehensive economic plans, and take necessary measures.
Hammad pointed out that his government has begun implementing a comprehensive economic plan, including importing and providing essential goods to citizens through various commercial channels.