Financial soundness indicators are considered a measure of the robustness of the financial sector and its institutional units in general and the banking sector. Such indicators are one of the important inputs in the analysis and evaluation of macro-prudential soundness, as this section deals with the analysis of financial soundness indicators for the banking sector […]
The consolidated budget of commercial banks showed a decline in its total items on both sides of assets and liabilities at the end of the first quarter of 2023. Where the total assets within the consolidated budget recorded about 140,539.4 million LYD, compared to 142,731.9 million LYD at the end of the first quarter of […]
Central Bank of Libya published a report of the important financial data of the commercial banks, where it drew a summary of banks’ performance at the end of the first quarter of 2023, and showed a number of evolutions compared to the performance in the same period of 2022, the changes are as follows: The […]
OCCRP, the specialized organization in organized crime and corruption, mentioned that Libya’s Central Bank in Tripoli failed to account for the delivery of US$4.8 billion worth of local dinar banknotes from a British printing company, according to a leaked financial review, raising questions about where the money went. Meanwhile, a central bank controlled by the […]
The economic Business Insider Africa stated that Libya ranks third in Africa with the largest reserves of gold in 2023, with gold reserves estimated at 117 tons. The website added that Algeria comes on top of the African countries with 174 tons, followed by South Africa in second place with 125 tons. The website continued […]
The International Monetary Fund stated yesterday, Monday, that Libya needs an economic strategy that clearly outlines the path forward. This will be an opportunity to work on improving the utilization of oil revenues, diversifying the economy, and moving away from the policies of the Gaddafi era, which promoted rent-seeking behavior, corruption, and government opacity. The […]
Attorney Thuraya Al-Tuwaibi told our source that the Tripoli Court of Appeal decided to return the appeal filed against the National Oil Corporation and Eni North African Oil and Gas Company, at the company’s request, to July 12. Al-Tuwaibi added that the verdict was postponed in the urgent part, and that Eni had made a […]
The Central Bank of Egypt said on Sunday that it had received huge deposits from Libya and Qatar late last year as Egypt grappled with a foreign currency shortage. The Egyptian bank said that the two deposits are one billion dollars from Qatar, and the other amounted to 700 million dollars from Libya. In particular, […]
Bank ABC has won two distinguished awards at Global Finance’s much-coveted The Innovators Awards -2023. The Bank’s innovation and digitisation centre, ABC Labs, has been named as one of “the World’s Best Financial Innovation Labs”, a recognition given to leading financial innovation labs that are driving the digital revolution in the global banking industry. With its […]
Jumhouria Bank revealed, in an exclusive statement to our source, that a shipment of cash, worth 100 million dinars, had arrived at Benina Airport in Benghazi, to meet the needs of Jumhouria Bank customers in the eastern region. This is within the framework of the Central Bank of Libya’s plan to provide liquidity and in […]
Today, Monday, the Paris Court of Appeal issued a ruling in favor of the National Oil Corporation against the Emirati energy company, Trasta, granting it full control of the Ras Lanuf refinery. Africa Intelligence said that the ruling obliges Trasta to pay approximately $115 million in unpaid fees to the institution after it won a […]
The Chairman of the Board of Directors of LPTIC, Mr. Mohamed ben Ayed, accompanied by the head of the Administrative Control Authority, Professor Counselor Suleiman Al-Shanti, in the activities of the International Arbitration Conference in Libya, organized and supervised by the Administrative Control Authority and the Libyan Academy for Postgraduate Studies. All the attendees stressed […]
The liquidity team at the Central Bank of Libya revealed, in an exclusive statement to our source, that at this moment a third shipment of liquidity, worth 60 million dinars, has arrived at Sebha Airport, allocated to bank branches in the southern region. This is within the framework of the continued implementation of the Central […]
Our source obtained exclusively the report of the Research and Statistics Department of the Central Bank of Libya regarding inflation. The data issued by the Statistics and Census Authority – Ministry of Planning indicate that the general consumer price index rose during the first quarter of 2023 to record 293.5 points, an increase of 8.9 […]
Our source obtained the Quarterly Economic Bulletin for the first quarter of 2023 issued by the Research and Statistics Department of the Central Bank of Libya, as it contained many important monetary, financial and economic data and indicators. As the first quarter of the current year 2023 witnessed an increase in the money supply in […]
