Beltone launches brokerage operations in Libya
Beltone Securities International will provide trading services on the Libyan Stock Exchange to its Libyan, regional and international clients. Mr. Khaled Hilal, the managing director of Beltone Securities International said, “Beltone is providing a full array of investment banking services to its clients in Libya, encompassing: securities brokerage; equity research; investment banking; as well as asset management and private equity.”
Mr. Hilal added, “The breadth of Beltone’s services in Libya should help to contribute positively to the growth of the Libyan economy and to the growth and profitability of Libyan companies.”
Mr. Aly El-Tahry, Chairman of Beltone Financial Holding said, “Libya’s changing social and political climate has signalled that it is the right time to invest in Libya. Libya’s economy is growing rapidly as a consequence of increased infrastructure spending, improved local consumption and foreign direct investment. In addition, increasing revenues from tourism and a fast-expanding industrial and services sector is pushing economic growth across the wider economy.”
Libya’s GDP per capita has risen sharply over the past few years to reach US$16,000 per annum, placing Libyan GDP per capita on a par with a number of European states. Economic growth in Libya is certain to rise more sharply than in Europe, however, due to the over US$55 billion of investment that is planned for major infrastructure projects for electricity production, the petrochemical sector, water and real estate across the country, all of which should benefit the private sector.