The French intelligence website, Africa Intelligence, reported today, Thursday, that the Libyan Investment Authority is resuming its battle to recover Libyan assets. The site confirmed that the head of the Investment Authority, Ali Mahmoud Hassan, is seeking negotiations on the use of frozen assets during his discussions with the United Nations sanctions committee on Libya.
The Deputy of the Libyan Audit Bureau held discussions with the General Administration for Oversight of the Energy and Public Companies Sectors about the work of technical committees serving as observers in the annual oil inventory operations. He emphasized the need to crown oversight efforts with a comprehensive qualitative report supported by technical observations and […]
The World Bank has revealed in a report that Libya introduced its subsidy program in 1971, covering essential food products, energy, public services such as water and sanitation, education, medicines, and animal feed. The program aimed to set affordable prices for basic consumer goods and shield consumers from global price shocks. The report noted an […]
Banking expert Omran Al-Shaeibi commented on the letter sent by the Central Bank of Libya to the Audit Bureau in response to the alert issued by the U.S. Federal Reserve, which called for subjecting its dollar-denominated transactions to review and auditing. He described this alert as a significant indicator of the nature of the relationship […]
Banking expert Ibrahim Al-Haddad stated in a post on his official page that the Central Bank of Libya has lost its status and credibility, as he described it. He attributed the U.S. Federal Reserve’s suspension of dealings with the Central Bank of Libya until an international auditing firm is assigned to review the bank to […]
Economic expert Omran Al-Shaeibi an article saying: Social media platforms have circulated the letter sent by the Central Bank to the Audit Bureau based on the warning issued by the U.S. Federal Reserve to the Central Bank regarding subjecting its dollar-denominated transactions to review and auditing. This notice signals a serious risk in the nature […]
The Central Bank of Libya exclusively revealed toour source that a new shipment of cash arrived this evening from abroad. The cash was immediately transported to the Central Bank’s vaults to prepare it for distribution to all branches of commercial banks in Libya, in accordance with the previously approved timeline. This step comes as part […]
Economic expert Mohammed Abu Snina wrote about the warning issued to the Central Bank by the U.S. Federal Reserve regarding the review and audit of its dollar-denominated transactions: This measure falls under what is known as D-Risking, a procedure adopted by international financial institutions when they perceive financial risks associated with their transactions with certain […]
Financial expert Khaled Al-Zantouti exclusively told our source regarding the Central Bank’s recent statement: “The average Libyan household consumes imported goods and services worth over 21,000 Libyan dinars monthly, which is three times the value of our oil exports.” He added, “I was deeply astonished by the Central Bank’s recent statement and the figures it […]
Former Central Bank of Libya board member, Mrajaa Ghaith, commented to our source regarding the letter sent by the Central Bank to the Audit Bureau. He stated that these issues had been repeatedly highlighted in the past, referencing the Global Witness report that revealed corruption in letters of credit. He also warned about the risks […]
The Head of the Accounting Department at the Libyan Academy, Abubakr Abu Al-Qasim, commented to our source on the open letter issued by several individuals concerned with financial matters. The meeting, organized by the Humanitarian Dialogue Center, led to the creation of a document that focused on returning to the legal foundations for approving the […]
The World Bank reported today, Wednesday, that Libya’s economy is expected to stabilize following an agreement to resolve the country’s Central Bank crisis, which led to a significant rebound in oil production. However, despite recent progress, Libya’s GDP is expected to shrink by 2.7% by the end of 2024. According to the latest World Bank […]
Libyan businessman Husni Bey stated exclusively to our source: “What is being circulated about the Central Bank’s request to the Audit Bureau is nothing more than a ‘storm in a teacup.’” He continued: “The Federal Reserve has not suspended any transactions related to Libya, nor has it threatened any immediate or urgent suspension. All it […]
Mrajaa Ghaith, former board member of the Central Bank of Libya, clarified in his statement to our source regarding the open letter signed by several experts about the financial challenges facing the Libyan state. He stated that the paper is mainly related to the preparation and implementation of the 2025 budget. Its purpose is to […]
Our source from the Central Bank of Libya revealed in an exclusive statement: “We reassure citizens and traders regarding the correspondence directed to the Audit Bureau about the Federal Reserve. There is no cause for concern, as these are routine administrative procedures that can be managed.” The source continued: “The correspondence does not pose a […]
