We create advantage for banks, businesses, and law firms in Libya—here’s how…
How do you conduct effective due diligence in Libya where information is scarce, bureaucracy is complex, and risks are high?
By leaving nothing to chance.
From our headquarters in Tripoli, Libya, we combine local expertise with thorough risk assessment to deliver unparalleled due diligence services. We access non-digitised records through formal channels and in-person requests, uncovering critical information others can’t reach.
Banks, businesses, and law firms rely on Qabas for expert, timely, and cost-effective due diligence in Libya that is both thorough and credible. We provide a high-quality, systematic approach to assessing potential risks from new and existing customers, third parties, investments, and partners.
When we say we care as much about your business as you do, we mean it. Contact us today to learn how we can help you navigate Libya’s landscape with confidence.
Table of Contents
How Do You Really Know Who You’re Working With?
Libya presents a uniquely challenging business landscape—limited openness to foreign investments, low levels of digitalisation, significant reliance on oil production, and a restricted free-market environment. These factors contribute to a scarcity of accessible and relevant data, further complicated by bureaucratic inefficiencies and limited expertise in data management. Libya’s consistently low ranking on the International Transparency Index reflects these prevailing challenges.
In such an environment, nobody can guarantee success. The responsibility for both success and failure rests solely on businesses themselves. The critical question is: Do you really know who you’re working with?
At Qabas, we help you stay ahead. Our end-to-end governance, advisory, and monitoring solutions are designed to detect, mitigate, and remediate security, legal, compliance, and regulatory risks—services that are not just recommended in Libya but are essential.
Know Who You’re Doing Business With; Your Reputation Depends On It.
AML Compliance Due Diligence in Libya
Libya’s low levels of digitalisation and limited access to information seriously limit the extent to which one can conduct Anti-Money Laundering (AML) efforts. Recognising this, we’ve developed solutions designed to minimise the risks associated with money laundering and other illicit activities, ensuring compliance through robust programmes and processes.
Our Approach:
- Risk-Based Assessment: We adopt a risk-based approach to assess the dangers of doing business with customers and third parties.
- Policy Development: Establishing policies, procedures, and controls designed to detect and report instances of money laundering.
- Client Onboarding and Risk Scoring: Implementing rigorous processes to evaluate new clients.
- Sanctions and Negative News Screening: Monitoring against global watchlists and adverse media.
- Ongoing Monitoring: Continuously assessing client activities to identify suspicious patterns.
- Enhanced Due Diligence: Conducting open-source public records research on higher-risk accounts.
- Verification of Source of Wealth and Funds: Ensuring legitimacy to prevent illicit financial flows.
By tailoring our services to the Libyan context, we help you navigate the complexities of AML compliance effectively.
Financial Due Diligence in Libya
In a market where transparency is limited, verifying numbers, records, and narratives is crucial. Any organisation considering a deal needs to scrutinise all underlying assumptions. Financial due diligence provides peace of mind by analysing and validating financial, commercial, operational, and strategic hypotheses.
Our Services Include:
- Revenue, Commercial, and Market Due Diligence: Assessing viability and growth potential.
- Synergy Validation: Identifying and confirming synergistic opportunities.
- Maintainable Earnings and Cash Flows Analysis: Evaluating the sustainability of financial performance.
- Operational Issues Examination: Identifying inefficiencies and risks.
- Deal Structuring Advice: Providing insights for optimal transaction frameworks.
- Access to Non-Digitised Records: Navigating Libyan institutions through in-person requests and formal channels.
We ensure there are no ‘black holes’ in your understanding, enabling you to make informed decisions with confidence.
KYC Libya: Know Your Customer for Libyan Businesses
Libya’s lack of centralised financial records and databases makes Know Your Customer (KYC) compliance particularly challenging. Businesses must go the extra mile to verify the identities and backgrounds of their clients.
Our Support Includes:
- Enhanced Customer Identification Procedures: Assisting banks and businesses to comply with Central Bank of Libya regulations.
- Verification of Identities and Backgrounds: Ensuring you know exactly who you’re dealing with.
- Source of Wealth and Funds Confirmation: Providing assurance of legitimacy.
- Compliance with Legal Frameworks: Helping you operate within the law and avoid potential pitfalls.
By implementing rigorous KYC processes, we help safeguard your operations and reputation.
Third-Party and Vendor Screening in Libya
An increased focus on global regulatory compliance has highlighted the need for meticulous scrutiny of third-party and joint venture relationships. Libya is no exception.
Our Services Offer:
- Comprehensive Screening: Evaluating local vendors and suppliers to uncover any involvement in illegal activities or financial instability.
- Foreign Entity Assessment: Screening foreign entities operating in Libya, especially those linked to sensitive groups or countries.
- Risk Evaluation: Identifying potential legal and reputational risks before they impact your business.
- Ongoing Monitoring: Keeping abreast of any changes that could affect your relationships.
By thoroughly screening third parties and vendors, we help you preserve brand integrity and business continuity while protecting against regulatory violations.
Supply Chain Vendor Screening and Due Diligence in Libya
Companies are increasingly struggling with third-party risk in the post-COVID-19 environment. These challenges are particularly acute in Libya.
Our Tailored Solutions Include:
- End-to-End Vendor Screening: Mitigating exposure to regulatory and reputational risks across your supply chain.
- Risk Identification and Assessment: Evaluating partners to prevent costly disruptions.
- Mitigation and Monitoring: Implementing strategies to manage risks effectively.
By addressing these challenges proactively, we help you maintain the integrity, security, and sustainability of your supply chains.
Strategy and Commercial Diligence in Libya for Businesses
We provide strategic perspectives on Libya’s market and competitive environment, offering deeper insights and data on value creation opportunities.
Our Expertise Encompasses:
- Early-Stage “Outside-In” Research: Offering initial insights into sector attractiveness.
- Detailed Market Analysis: Assessing market size, addressable segments, and growth prospects.
- Competitive Benchmarking: Understanding drivers of differential revenue growth and margins.
- Strategic Recommendations: Providing insights to enhance value.
- Management Forecast Assessment: Critically evaluating revenue and margin projections.
Our intellectual rigour combines primary and secondary research with quantitative analysis and strategic thinking, ensuring you are well-equipped to make informed decisions.
Conclusion
From confirming whether a company exists in Libya to verifying sources of wealth and funds, we offer a cost-effective, high-quality, and systematic approach to assessing risks.
Make informed decisions to stay ahead.
By partnering with Qabas, you’ll take a risk-based approach to a broad range of business needs—from AML and KYC compliance to identifying potential risk factors in new business relationships and investments.
Contact us today to discuss your requirements. We’re more than happy to assist you from our headquarters in Tripoli, Libya.
