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The study focuses on the basic variables of the knowledge economy, where aims to know the role of the knowledge economy in the banking sector and solving the problems facing Libyan commercial banks in the development of banking services. In order to achieve the main purpose of the study, we used the descriptive-analytical method, by using the questionnaire. Where we surveyed a total of 320 employees at six commercial banks operating in the eastern region of Libya. Through incoming questionnaires, we have analyzed 299 questionnaires. The results of the analysis showed a positive relationship between the knowledge economy and the development of banking services and that the knowledge economy plays an active role in the development of banking services, as the sub-variables of the knowledge economy are knowledge, skills, education, IT infrastructure, speed, access to service, research and development, Innovation, institutional regime, economic incentives as well as the sub-dimensions of the developing of banking services that represented in online banking, data transfer services, the use of technology, and customer relations. all of them show a high positive relationship among them. Also, the study includes information on whether there are differences between the knowledge economy and the development of banking services in the banks included in the research. The results of the study showed that knowledge, skills, training, economic incentives, and institutional regime vary according to banks

The Libyan economy under the influence of current political risks that is resulted in a sudden halt in petroleum products following the revolution followed by a halt in major economic activities. The banking sector was not immune to these current economic risks therefore, the banking sector faced non-financial and financial risks.  Our study focuses on human resources with a high level of talent and skills and their role to overcome the banking risks faced by the Libyan banking sector. This is of great importance as the first study addressing the empowerment of human resources in effective risk management in the banking sector, especially in Libya. To a chive the objective of the study the questionnaire method was used to collect data, the survey was distributed to 320 employees and six banks operating in the eastern part of Libya were selected as targets to investigate the risks faced by the banking system as a result of the current political crisis. The result of the research demonstrated there is a positive and statistically significant relationship between the dimensions of employees’ empowerment and effective risk management. It was seen that issues such as training, incentives, and participation, sharing of authority, teamwork for employees are important in risk management. In addition, the risk management and strengthening of human resources among the banks in Benghazi and Al Bayda have been found to differ in their dimensions. The findings in this study seem to be consistent with many findings in the literature.