Libyan Stock Market

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Libyan Stock Market
Stock exchange
Founded March 2007
Founder Dr. Suliman Alshahmy
Headquarters Tripoli, Libya
Key people
Dr.Ahmed Kroad General Director
Website www.lsm.gov.ly

The Libyan Exchange Stock Market (Arabic: سوق الأوراق المالية الليبي‎‎) officially opened in Tripoli, Libya, during March 2007.[1] It is the first exchange of its kind in the country.[citation needed]

Background[edit]

The Libyan Stock Market (LSM) was established by Dr. Suliman Alshahmy by Decision No. (134) of the General People's Committee (GPCO), on June 3, 2006, to form a joint stock company with capital of 20 million Libyan dinars, divided into 2 million shares with a nominal value of 10 LD per share. The first phase focused on introducing financial definitions and rules, the addition of several workshop courses, and a series of agreements with the Amman Stock Exchange and Cairo & Alexandria Stock Exchange and the Egyptian Company for Clearance and deposit.

Listed market securities include the National Mills and Fodder Company, the United Insurance Company, Bank of deserts, and the Libyan Insurance Company, Sahari Bank, and the Hay Alandalus Domestic Bank. The volume of subscription on July 2, 2007, totalled 49539 shares, with a total value amounting to 346.773 LD.[2]

"LIBYA 18 October 2007. A cooperation agreement was signed on Monday in London between the Libyan Stock Exchange Market and London Stock Exchange."

The agreement was signed by the Chairman of Administration and General Director of the Committee for Libyan Stock Exchange Market and the Director of the London Stock Exchange.

The agreement provides for training teams from the Libyan Stock Exchange in Tripoli and in London to enable them to run the stock market operations. In addition there will be regular reviews of the Libyan regulations and systems, to modernize them from time to time, and for seminars and conferences organized by the London Stock Exchange.

The Libyan Stock Market closed following the eruption of the Libyan Civil War in February 2011. It remained closed until reopening the following year on 15 March 2012.[3]

Organizer[edit]

Head of IT Ahmed Balras-ali

Suliman Alshahmy[edit]

Suiman Alshahmy is the official founder of the stock market and chairman of Arab exchange development. Alshahmy is a Financial manager (accountant) and Banker who worked to develop his country's economy by starting up the Stock Exchange . over the time in working he developed a wide range of experience in Accounting,Finance and professional management skills. Alshahmy's responsibility was building up the Stock Market in Libya, he started first on line trade with the full electronic system on 8 April 2008, He worked in all activates related to the sock exchange trade, settlement control, depository, brokers, listing and public education. He the presented the stock Market in the international community and I made and reviewed the first Libyan Stock Market Law in 2010.

(1 year 3 months)Barite

Alshahmy was responsible for working with General Manager to make sure that the action plan is working smoothly and issued and saying the annual report of the Federation. He had been the chairman of the Arab Exchange Federation three times during my period as Chairman of Arab Federation.

Working Hours[edit]

The Libyan Stock Exchange has a normal Trading sessions from 10:00am – 5:00pm Sunday-Thursday, and Holidays is declared by the exchange in Advance.

References[edit]

  1. ^ Business Intelligence-Middle East March 15, 2007
  2. ^ ميدل ايست اونلاين[dead link]
  3. ^ Soguel, Dominique. "Libya's stock market in low-key opening". Agence France-Presse. Retrieved 16 March 2012. 

External links[edit]