About us

The Mediterranean bank was established in 1997 under the name of Benghazi Ahli Bank, a private local banking institution operating under the umbrella of The National banking corporation and the supervision of the central bank of Libya.
Benghazi Ahli bank started its operation with a paid-up capital of one million Libyan Dinars out of an authorized capital of three million Libyan Dinars. During its eight years of operation the bank made an average, before tax annual profits of 1:35 millions Dinars,and distributed to share holders an average annual dividend of 0.44 millions Dinars,today the bank initial authorized capital is not only fully paid but is also increased to over ten millions Dinars fully paid.

The shareholders of the bank convened, in late 2005 and early 2006, in a number of ordinary and extra- ordinary general meetings. During these meetings the ordinary and the extra- ordinary general assemblies discussed and unanimously voted in favor of major decision. All aimed at fundamentally reorganizing the bank not only to meet the requirements of the provisions of the new banking low No.1/2005 , but also to adequately respond to the new structural and organizational changes and development resulted from recent economic reforms now taking place in Libya.

The extraordinary general assembly decided, among other things, toConvert the bank into a nation-wide institution able to operate, independatly from the national Banking Corporation. All over the country.
Increase the banks authorized capital to thirty three million Libyan Dinars, open for subscription to individuals and institution from all parts of Libya.
To emphasize the Bank's new profit, the extra ordinary general assembly renamed the bank to be (Mediterranean bank) and appointed a new board of Directors to reflect the banks newly acquired nation-wide identity, extended boundaries, and widened scope of operation in both domestic and international banking.
All the above measures have been approved by the central bank of Libya ,The central bank also authorized the (Mediterranean bank) to open a branch in the city of Tripoli, which was opened for business as from the first December 2006.it is doing very well and handsomely contributes to the bank´s earrings. Plans to open a second branch in Tripoli another branch in Benghazi and fourth in the Harbor city of Misurata are already in advanced stages.Within the first 22 months of its existence the Mediterranean bank made considerable progress