By Sami Zaptia.
London, 3 July 2020:
The Arab Commercial Bank (ACB) bank expressed its strong interest in building partnerships with SME business centres and incubators in Libya.
The news was revealed by the EU for Private Sector in Libya (EU4PSL) project on Tuesday (30 June) after its virtual working session with ACB. The EU4PSL said the meeting was part of its ‘Improving Access to Finance’ team in the framework of the project “Supporting the Libyan Banks in setting up an SME unit”.
The EU4PSL said that the ACB has made significant progress towards the establishment of the SME Unit and adapting the bank’s organization and policies to better meet the needs of the SME sector. The bank is currently working with a Jordanian company to re-design the bank policies and procedures in accordance with Islamic Finance principles.
EU4PSL is a project funded by European Union and implemented by Expertise France.