After  emergence of the Great First of September Revolution and issue of decision providing for raising the percentage of national shareholding  in foreign banks to (51%) on 13.11.1969, all foreign banks operating in the Great  Jamahiriya at that  time were subjected to this Revolutionary decision.  However, one bank only continued procrastination in implementing this decision, i.e. the British Bank named (Barclays Bank) which demanded for equal sharing of Management between both parties.  But its procrastination did not last for long, as the decisive decision was issued for nationalizing the Bank on 22.12.1970 to become fully owned by the Libyan Arab people under the name of (Gumhouria Bank).

The Bank encountered certain difficulties & obstacles during that transformation stage, but  by God’s will and perseverance of its employees for performing their duties towards the Revolution granting them high confidence worthy thereof  as proved,  they succeeded in management of the Bank and provided   best services at local & international level.

In an endeavor to provide distinctive Banking services throughout  the Jamahiriya for the benefit of all citizens, the Higher Administration shouldered the burden for introducing all new  developments in the Banking  by opening branches and agencies in all regions and supporting them with trained national staff internally and abroad, as well as providing the branches and agencies  with modern advanced equipment and devices and using computer systems optionally  for providing distinctive services in this field, as would support the national economy and enhance transformation/development process.

Hence, Gumhouria Bank is considered today one of the largest Banks operating in the Great Jamahiriya, and an advanced Bank at Arab and international level.  This indicates the development achieved by the Bank and the efforts exerted by its employees, especially the young management elements who continued managing the Bank since its establishment till now, on the basis of   their wide Banking experience and culture, and exerting all efforts for serving the Jamahiriyan society in all its institutions, companies and partnerships and all economic activity internally and abroad.