Merger of Tunisian and Libyan Banks in the Offing

Sources in Tunis report that the governments of Libya and Tunisia are currently negotiating the terms of a merger of three banks to create a bi-national financial entity capable of financing large projects.

There is no official statement about the talks, but sources say the banks targeted for a merger are the North Africa Investment Bank, Al-Ubaf International Bank and Tunisia's BTL (Banque Tuniso-Libyenne).