LFB management has fully grasped the importance of these controlling rules and their
implementation, along with other standards such as transparency, the provision of data and
information, implementation of the international accounting standards, and capital
adequacy stated in Basil II.
Accordingly, the Libyan Foreign Bank has issued a corporate governance guide, approved
and adopted under the Board of Directors decision No. 3-4-833/2013 dated 27- 8-2013. The
terms and standards included in this guide comply with the Central Bank of Libya, approved
under decision No. 20 dated 2010.
The Board of Directors has formed a governance committee and entrusted it with the tasks
of amending and developing the standards of the guide accordingly.