The banking sector in Libya has faced significant challenges due to political instability and economic fluctuations since the 2011 revolution. The sector is primarily dominated by state-owned banks, which provide essential services such as savings accounts, loans, and foreign exchange. However, the lack of a robust regulatory framework has hindered growth and efficiency. In recent years, efforts have been made to reform the banking system, including the introduction of new banking laws and the establishment of a central bank to oversee operations. Despite these initiatives, the sector still struggles with issues like liquidity shortages and limited access to financial services for the population.