As a sign of growing confidence in Libya, HSBC has reopened its representative office in Tripoli.
The bank closed the Tripoli office in February this year due to the political unrest under the Gaddafi regime.
HSBC’s Libyan office was first established in 2006 and provides advice, assistance and services to domestic Libyan institutions and multinational clients with business interests in Libya. It also provides financial advice on project, infrastructure and trade finance.
Timothy Gray, chief executive officer of HSBC Libya says: “This is a significant development, and we are delighted to reopen our doors in Tripoli. We look forward to playing our part in working with the new authorities and helping to return Libya to stability and growth.”
Additionally, the UK’s export credit agency UK Export Finance also reinstated its support last month by resuming its Libyan cover for British exports.