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The importance of establishing the
financial markets in the world comes for savings and funds
investment in securities to benefit the national economy and to
ensure the safety and accuracy of transactions and ensures
interaction between the powers of supply and demand to define prices
and protect investors, as well as to consolidate the foundations of
a just and Proper handling and to closely monitor trading operations
conducted on stock for increase the investment awareness which
ensure financial and economic stability, development and
rationalization the Methods of dealing to ensure price stability.
The steps preceding the creation of market entrusted the task of
Establishing the stock market to the secretariat of the General
People's Committee for Economy , Trade and under the resolution of
the secretariat of the General People's Committee (No. 105) for
(2005). the interest of the Secretariat of the General People's
Committee for Economy , Trade and investment to success and
activating the role of the stock market and badges into existence,
it has taken many actions and procedures which have a significant
Impact in the success of this market, which could to summarize in
the following:
In the area of the definition of stock market and the possibility of
activating its role in the interest of the national Economy and
publish its news and seeking to increase investment awareness of
investors, the market put these points in the priority where the
symposium was organized to define the stock market , its Importance
and its role in completing the cycle of economic life, through The
experiences of some Arab countries, and Its construction and
development in the capital markets , in addition to identifying
closely on fundamentals and the Possibilities for the establishment
of such a market in Libya, in order to define a clear-cut vision of
this particular Beneficiaries of this test States that participated
in the symposium, as well as contributions made by scientific
Researchers and academics.
The General People's Committee for Economy, Trade and Investment
which supervising the establishment of the stock Market have
participate in the session (35) of Tripoli International Fair,
through workers of the market have organized a special wing in order
to define Libyan Stock Market importance, and to increase the
awareness of investors about the dealing ways in the market and to
direct them toward optimum investment of their savings.
The working group of the market, each one according to his
specialization organized and set up second Symposium entitled
(future vision towards investment) , during the period of the
session (35) of Tripoli International Fair Hall for conferences, and
with the presence of number of economic experts and Specialists
interested in economical and investment affairs, through number of
discussion topics and themes aimed at the definition of securities
market and the trading movement and the role of brokers in
Stimulating trading and regulate the movement of the market and also
respond to all the questions which could give the way for investors,
whether domestic or foreign investment in securities because it is
the channel granted transparency and credibility in order to optimum
the investment in successful companies.
The stock market has taken the necessary arrangements regarding of
some listed and registered companies and banks, including: (United
Insurance Company, the company's eligibility Cement Company National
Assembly of the mills and fodder, Deserts Bank, Bank Ahli Tripoli,
market Friday Ahli Bank, Bank Al Ahli Andalusia).
The first phase of the foundation witnessed holding several
intensive meetings with the relevant parties with market activity
and also it has been hiring by local and foreign experts in this
area.
Steps of Establishment
In June 3, (2006) the General People's
Committee issued a resolution (No. 134) regarding to establish
Libyan Stock Market and issuing its statute. Accordingly the
Secretary General People's Committee for Economy, Trade and
Investment issued Decision No (244) for (2006) assigned Mr. Suliman.
S. Alshahomy as the General Manager of Libyan stock market.
In addition to that the Secretary of the General People's Committee
for Economy, Trade and Investment has issued resolution ( No. 332 )
of ( 2006 ) , to the identification of fees and Contributions of
members of the Libyan stock market. at the time it issued all these
resolutions the assigned manager to establishing the stock market
draw In parallel line the mechanism which the market might follow
after the establishment through working visitations which he had to
Arab countries and study the possibility make use of capital market
in the Arab countries where he visited Amman Stock Exchange and
Stock Exchange of Dubai and Cairo and Alexandria Stock Exchanges, to
stand on their experiences from near and produced several such
visits meetings related to the Establishment of the market in the
Great Jamahiriya
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