Question 1

What is United Bank for Commerce & Investment (UBCI)?

Accepted Answer

United Bank for Commerce & Investment (UBCI) is a commercial bank in Libya providing comprehensive banking and Islamic financing services. The bank was formed through the merger of three private Libyan banks and operates in strategic partnership with Ahli United Bank Group of Bahrain. UBCI serves individual and corporate customers across Libya with a focus on commercial banking, trade finance, and Sharia-compliant financing solutions.

Question 2

When was United Bank for Commerce & Investment (UBCI) founded?

Accepted Answer

United Bank for Commerce & Investment was established in 2007 as a result of merging three private banks: Al-Ajilat National Bank, Zuwara Al-Ahli Bank, and Sahl Al-Jafara National Bank. The merger was authorized by a decision from the Governor of the Central Bank of Libya issued on July 1, 2007.

In 2010, UBCI entered into a strategic partnership with Ahli United Bank (AUB) Group from the Kingdom of Bahrain. Under the agreement signed on March 8, 2010, the bank's capital was increased from 33 million Libyan dinars to 80 million Libyan dinars, with ownership distributed at 60% to Libyan shareholders and 40% to Ahli United Bank. This partnership brought technical management expertise and international banking standards to UBCI's operations.

Question 3

Where is United Bank for Commerce & Investment (UBCI) headquartered?

Accepted Answer

UBCI is headquartered in Tripoli, Libya. The head office is located on Gamhouria Street in the Mansoura district of Tripoli. The bank's mailing address is P.O. Box 5745, and its main office can be reached at multiple contact numbers for customer service.

Question 4

Where does United Bank for Commerce & Investment (UBCI) operate?

Accepted Answer

UBCI operates throughout Libya with a network of branches serving major cities and commercial centers across the country. The bank maintains presence in key Libyan regions, providing banking services to customers in both coastal and inland areas.

The bank's operations span Libya's main economic zones, allowing it to serve individuals, businesses, and institutions throughout the nation. Despite operating in a challenging economic and political environment, UBCI has maintained its commitment to providing banking services to the Libyan market.

Question 5

What services does United Bank for Commerce & Investment (UBCI) offer?

Accepted Answer

UBCI provides a comprehensive range of banking services including current accounts for salary payments, accounts for individual activities, accounts for small and medium business owners, and premium services for major merchants and corporations. The bank offers various account types designed to suit different customer needs and business activities.

Islamic financing services form a significant part of UBCI's offerings, with Sharia-compliant financing plans available for all customer segments. Products include Murabaha and Murabaha of benefits for individuals, as well as large-scale financings and participations for major companies. These Islamic financing solutions are designed to meet living and investment needs while adhering to Islamic banking principles.

Digital banking services are available through the Mye_bank platform, which allows customers to check balances, transfer funds between accounts (within UBCI, to other Libyan banks, and internationally), view mini statements, request checkbooks, charge Tamyoz cards, issue new cards (Wasila, Tamyoz, Platinum, Infinite), request card replacements or PIN mailers, and stop cards. The bank provides 24/7 customer support through its UnitedCare service.

Trade finance and treasury services are available for corporate clients and businesses engaged in international commerce.

Question 6

What makes United Bank for Commerce & Investment (UBCI) unique?

Accepted Answer

UBCI's strategic partnership with Ahli United Bank Group provides access to international banking expertise, technical services, and best practices from a major regional banking institution. AUB Group operates throughout the Arab region, offering integrated banking services including wealth management, commercial banking, corporate banking, treasury, offshore activities, and private banking.

The bank's positioning as a merger of three established Libyan banks gives it historical roots in multiple Libyan communities. UBCI emphasizes quality, security, and privacy in its service delivery, operating under fixed principles and values that prioritize customer trust.

The bank's tagline "United For You" and "United For Your Success" reflects its commitment to supporting customer goals. UBCI's combination of conventional and Islamic banking services allows it to serve diverse customer preferences within the Libyan market.

Question 7

What type of financial institution is United Bank for Commerce & Investment (UBCI)?

Accepted Answer

United Bank for Commerce & Investment is classified as a commercial bank in Libya. Commercial banks in Libya are licensed and regulated by the Central Bank of Libya and are authorized to provide full banking services including deposit-taking, lending, trade finance, foreign exchange services, and treasury operations.

UBCI operates as a private commercial bank with mixed ownership between Libyan investors (60%) and a foreign institutional investor (40%), distinguishing it from state-owned banks. The bank provides both conventional and Islamic banking services, reflecting the dual banking system present in Libya's financial sector.

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About United Bank for Commerce & Investment (UBCI) in Libya