المصارف التجارية في ليبيا والخصوصية التشريعية لها بين التنظيم والرقابة
Abstract
In view of the important and influential role of commercial banks, and their specialization in monetary, credit, and financing activities, as well as their contribution to supporting the national economy and participating in its development, a number of questions arise regarding commercial banks in Libya. Do they have special rules enacted by the Libyan legislator that define their legal form and regulate the exercise of their banking activity?
Accordingly, this research derives its importance from clarifying the main legislation and the distinctive provisions governing commercial banks under Libyan law.
The study addresses, in its first section, the definition of commercial banks, their legal form, the stages of their emergence and development, and the provisions regulating the exercise of their banking activity.
The second section answers the questions related to the nature of these provisions: are they merely a repetition of the general rules applicable to joint-stock companies, or do they differ by constituting special rules and legislation with a particular character for regulating commercial banks in Libya?
This section is therefore divided into two parts: the first examines provisions of relative specificity, which regulate the powers and competencies of the administrative bodies overseeing these banks or those related to capital; the second examines provisions of absolute specificity concerning authorization to operate and supervision, with the aim of protecting banks from risks and ensuring their independence.
The study concludes, overall, with a set of findings that answer the main research question. It shows that the special provisions governing Libyan joint-stock companies engaged in banking activity are not merely a repetition of the general rules applicable to joint-stock companies. Although they intersect with them in some relatively common provisions, they are absolutely distinguished by provisions that have no basis in the general rules and are characterized by greater strictness and restriction. This reflects the Libyan legislator’s concern for protecting depositors’ rights and supporting commercial banks.
