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Algeria exits Aresbank to back Libya
Under the title "Algeria Withdraws from Spanish Aresbank to Make Libya the Sole Shareholder," the article explains that Algeria has divested its investment in the Spanish bank Aresbank, resulting in Libya becoming the main and sole shareholder of the bank. Algeria had previously invested approximately 0.14%, while the majority stake (99.86%) was owned by the Libyan entity. This move comes amid improving relations between Madrid and Algiers, despite ongoing tensions with Morocco over the Western Sahara issue. It represents an important step in clarifying the bank's shareholders, as the institution focuses on trade finance between Spain and the Arab world and plans to expand its services, including Islamic financing solutions.
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