Two Hundred Fiflty Million Libyan Dinars
Two Hundred Fiflty Million Libyan Dinars
Bank of Commerce and Development was established in accordance with Statute number (1) 1993 and its amendments on banks, money and credit as follows:1. The Secretary of the General People’s Committee for Planning and Finance Decree number (234) 1993. 2. The Secretary of the General Committee for Planning, Economy and Trade Decree number (529) 1994. 3. Commercial Registration number (9515) dated 09/11/1995. 4. The Bank opened officially for business on 09/06/1996. 5. Member of the Union of Arab Banks as of 01/05/1996. 6. Member of the Society of Libyan Banks as of 10/08/1996. 7. Member of the Union of Magreb Banks as of 30/05/1998.
ARTICLES OF ASSOCIATION
Establishment of the Bank
ARTICLE (1)Bank of Commerce & Development has been set up by decision of the Secretary of the Popular Committee for Planning and Finance No 243/1423 dated 29.11.1423.
The provisions of Law No 1 of 1993 and the decisions by the Board of Directors of the Central Bank of Libya issued in implementation thereof and these Articles of Association shall apply, the provisions of the Libyan Commercial Code and Law No 65/70 shall also apply in so far as are not inconsistent with these articles.
ARTICLE (2)The objective of the Bank is to exercise all banking, financial and development financing operations including complementary related or otherwise normally required for banking, financial or development activities, particularly the following:
1-Acceptance of time deposits, opening of current accounts, contracting loans and granting other credit facilities for various periods.
2-Collection and payment of orders, bills and other documents of value.
3-Issue of bills, cheques, notes and other commercial papers as well as credit cards.
4-Discount, Rediscount and otherwise handle commercial papers of any kind whatsoever.
5-Issue of bank letters of guarantee of any kind whatsoever.
6-Opening confirmation and financing of documentary credits.
7-Financing of foreign trade through credit facilities to importers or the grant of advance financing to exporters.
8-Exercise the business of investment trustees and participate in financing productive projects after ascertaining their soundness.
9-Granting of short term facilities and loans to persons, cooperatives, collective companies as well as public or private service share companies.
10-Granting of mid-term and long loans for construction, industrial, touristic or agricultural investment after approval of the appropriate authority.
11-Offering counsels in the field of investments and project financing.
12-Undertake banking and financial operations with commercial banks in the Jamahirya consistent with Law No 1 of 1993 and the Libyan Commercial Code.
13-Acts to achieve the objectives of development by endeavoring to adopt agricultural projects and services with a view to reduce dependence on imports from abroad (production to substitute imports system) or increase exports (exports oriented production system) to save foreign currency needed for development purposes.
14-Create and make available savings and investment channels appropriate to the development by employing the proceeds of such channels in mid-term and long term investments to satisfy the aspirations of depositors and within the safety and profitability considerations of both depositors and the bank.
15-Train and enhance capabilities of national staff in the banking sector in conjunction with the appreciate authorities.
ARTICLE (3)The head office of the bank and legal domicile shall be in Benghazi; it may however establish branches, agencies or offices within the Jamahirya by decisions of its Board of Directors after approval by the Central Bank of Libya.
ARTICLE (4)The duration of the bank shall be ninety nine years renewable automatically for a further equal period or periods; the General Assenbly may however decide to liquidate it or merge it with another bank.
CAPITAL OF THE BANK
ARTICLE (5)The authorized capital of the bank has been set up at nine millions Libyan Dinars divided into nine hundred thousands shares of ten dinars each shares re indivisible. The paid-up capital shall be four millions and five hundred thousand Libyan Dinars.
ARTICLE (6)Stocks or certificates thereof shall be extracted from a coupons register and shall be serially numbered and signed by the chairman and a member of the board deputized for the purpose and stamped wi
Why Our BankPioneering Entrepreneurship Since its inception, Bank of commerce and development performs with presenting banking services of distinguishable type to his honored clients and has been a pioneer in introducing the latest banking technologies to the Libyan banking market.
promptness& precision Accuracy and speed of performance The Bank's strategy is based on customer satisfaction by providing the effort, time and interest to perform all banking services at maximum speed and accuracy. The bank has since adopted the latest and best basic banking systems and support as well as the operating systems and technical equipment used in the largest and most prestigious banking institutions at the level International.
Quality & stability The Bank has been able to maintain the standard of performance despite the difficult circumstances and tragic events that the country has experienced. Despite the difficulties and challenges, the bank has always been keen to achieve the interests of its customers and provide all banking services to them.
Development & innovation the continuous development of both the existing banking services and the application of technical techniques and the latest banking systems in the world, or in the provision of unique new services unique to the bank to meet the needs of customers in different categories and in various fields.
Excellence and the bank's keenness to always excel in the services provided to its customers and provide new banking services to meet all their needs in various fields as mentioned here below:
The bank provides all basic known banking services: Opening accounts of all types - Public and private companies - Commercial - Saving
Credit and banking services
Open accounts in foreign currencies for individuals and companies
The traveler cheques in Libyan Diners
Transfers between branches and accounts within the bank
External cash transfer services for non-commercial personal purposes (Western Union)
All types of bank cards (credit cards - prepaid cards - account card)
Swift external transfers
The personal and individual treasuries
Child savings accounts
Legal Office Services
The Bank also has exclusive banking services including:
mobile banking apps
Electronic payment services
Drive in Banking in some branches
Interactive banking services Banking or service with touch screen at all branches and agencies
Mobile bank cars
Mr. Gamal T.Abdulmalek
Mr. Fathi G.Busnaina
Mr. Ali M.Elasbaly
Mr. Belhamed K.Bushnaf
Mr. Abdulati H.Abdulati
Mr. Idris I.Tashani
Mr. Fadlalla F.Fannoush
Mr. Mohamed M.Hwaidi
Mr. Moafaq M.Suliman
Mr. Waseem Abdallah Azwaee
Mr. Abd Elsalam S ALjaded
Mr. Wesam Mdord
Mr. Tarek Mouftah ALhaddad
Mr. Bashir Hweti
Mr. Sameh Gwider
Mr. Emad Abdulhamid
Mr. ALi Rajab Alrateb
Mr. Wisam Kotrani
Mrs. Gada Elbaba
Mr. Fawzi Elhawaz
Mrs. Zienab Elziani
Mr. Saleh r.Alshari
Mr. Karim Elashhab
Mrs. Gada Radwan
Mr. Ibrahim r.Elbruki
Mr. Slah Salem Algmate
Mr. Salah Ali Alkarari
Mrs. Lila Ahmed Alfiel
Mr. Mohamed Nser alDin Boufliga