BOV closer to opening representative office in Libya

by Franco Aloisio

Bank of Valletta is closer to opening a representative office in Libya, sources close to the bank said yesterday.

The Malta Business Weekly has learnt that discussions between the two sides for the setting up of BoV's office in Libya have intensified in the last weeks following separate visits by BoV's chairman and the finance minister. In fact, Mr Zahra visited Tripoli two weeks ago, while Finance Minister John Dalli returned from Libya yesterday.

The opening of BoV's office in Libya was on the agenda of both visits. Minister Dalli said there are very positive indications that the Libyan authorities will be granting permission for the opening of a BoV representative office.

Mr Dalli added that the setting up of a Libyan bank in Malta was also discussed. The minister had several technical meetings with the Libyan foreign minister and the deputy foreign minister.