Foreign Exchange & Financial Services Company is a joint stock Libyan company established in accordance with the decision of the General Peoples' Committee No. 611 of 1994 & the Secretary of the General People's Committee for Economy & Commerce decision No. 327 of 1994 with a capital of L.D. 7 million or the equivalent of US $ 19 million. The amount was paid in full and equally among the shareholders. The company started operating officially on November 15, 1994.