The results of privatization of the Sahara bank Libya

Abstract

The purpose of this paper is to evaluate privatization process, obstacles and difficulties faced by the Libyan economy, particularly financial institutions, mainly banks. Despite the fact that goals of privatization proclaimed by the Government dereliction in the area of developing financial markets and making the economy more efficient, it is the process with many obstacles. Privatization has also been motivated with political reasons and all the effects of it in this paper will be considered through this prism. In this paper we analyzed the privatization of one of the largest commercial banks in Libya, named Sahara bank. This bank was purchased by French BNP Paribas bank and the results of this privatization supported the idea that when privatization process is led efficiently and smoothly it affects the entity its employees and economy as a wholpositively affects the entity, its employees and economy as a whole.