| Description: | Umma bank (Ex-Banca di Roma) was established on 14.04.1907 under agreement between the Government of Italy and the Government of the Turkish Sultan, in the late era of Turkish rule before the invasion of Libya.
The Revolution was particularly keen, in its first historical statement, on liberation of the human being from the oppression thereon. The Revolutionary decision (Libyanization decision) was issued for changing all names of Commercial banks to Arabic names on 13.11.1969. Accordingly, it became Umma Bank, instead of Banca di Roma.
By issue of historic decision of the Revolutionary Command on 22.12.1970 (Nationalization decision), in which all the foreign banks shares were nationalized and became completely (100 %) owned by Libyan people.
The bank endeavoured to develop its human and material capacities in all fields internally and externally. It worked for preparing the scientifically aware cadres, capable of coping with the new developments by continual training of its employees internally and abroad. The bank has also been provided with modern equipment and machines, and connection of its branches with computer system optimally for providing best services to its clients. The bank is primarily keen on performing all banking activities, thus contributing to promotion of the national economy in the various fields. |