Central Bank of Libya - 2005 Annual Report
Legislation passed in 2005 has led to a more independent Central Bank of Libya. The Banking Law Number 1 allowed the central bank greater autonomy in deciding monetary and credit policy, and banking supervision.
Libya's economy grew 5.8% in 2005, which Farhat Omar Bengdara, the governor of the central bank, put down to better conditions for the private sector. The central bank oversaw a raft of privatisations in 2005 and the introduction of several laws to better protect private investment. A
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