Credit in Libya: loans, microcredit, leasing and finance

Credit Libya

In Libya, credit operates in a market where système bancaire marqué par le poids du secteur public et les contraintes liées à la situation économique. The reference currency is LYD and the monetary or prudential framework involves Central Bank of Libya. Finance should always be matched to real repayment capacity.

Demand for finance is linked in particular to hydrocarbures, commerce, services, construction. Salaried workers, traders, farmers, business owners and retirees therefore present very different income patterns and should not be assessed in the same way.

A stronger application normally documents identity, address, bank activity, income, existing debts and the purpose of the finance. Total cost should be compared over the full term rather than through the monthly instalment alone.

The country guide below covers mortgages, vehicle finance, personal loans, peer-to-peer lending, cards, microcredit, business finance, leasing, agriculture, students, retirees, school fees and borrowing without salaried employment.