The High Council of State has issued a statement regarding the Presidential Council’s encroachment on the legislative bodies’ authorities. This is a confirmation of the governing principles outlined in the Libyan Political Agreement, which stipulates: Therefore, the High Council of State affirms that the decision published on the official page of the Presidential Council regarding […]
The Italian news agency Nova reported ongoing consultations between the Speaker of the House of Representatives and the “General Command” regarding the measures to be taken in response to the escalation by the Presidential Council Chairman over his decisions concerning the Central Bank. These consultations include the possibility of a complete shutdown of the oil […]
Exclusive banking sources revealed to Sada Economic Newspaper that operations at the Central Bank of Libya have been halted following instructions issued yesterday for employees not to report to work as a precaution against any emergencies. The source confirmed that the CBL system between banks is operational, accepting all transactions with no rejections for purchase […]
The “Middle East Monitor” website reported, citing informed sources, that there are mediations to contain and resolve the crisis at the Central Bank of Libya following the Presidential Council’s decision to form a new board and proceed with the dismissal of current Governor Seddiq Al-Kabeer and his deputy, Marai Al-Barassi, with the appointment of Muhammad […]
Bank ABC continued its strong performance with an H1 net profit of US$150 million, a 24% growth over the corresponding period last year, driven by a 10% increase year on year (YOY) in total operating income from core business growth and higher average asset volumes,after absorbing the impact of EGP depreciation, underpinned by bothoperating expenses and cost of credit being well controlled. The Group’s balance sheet strength was also maintained, with capital andliquidity ratios […]
Our source has exclusively obtained a directive from the Central Bank of Libya lifting the freeze on the accounts and balances of Al-Sahl Holding Group following the settlement of their financial obligations. The group deposited 255 million dinars out of a total of 309 million dinars. The Public Prosecution had issued a notice to lift […]
talian strategic expert Daniele Rovinetti revealed to Sada Economic News that the printing of the Libyan dinar by a Russian company is part of Moscow’s strategy to destabilize Libya. Rovinetti explained that this activity supports an unrecognized government in eastern Libya, bolstering Khalifa Haftar’s position and protecting Russian interests in the region. He suggested that Russia benefits from maintaining chaos in Libya to further its geopolitical goals.
In a statement to our source, lawyer Thuria Al-Touibi discussed the Supreme Court’s Administrative Division ruling to cancel the surcharge on foreign currency exchange rates. She explained that the Governor of the Central Bank of Libya and the Speaker of the House of Representatives, Aguila Saleh, filed an appeal after the ruling was announced, requesting […]
Jalal Al-Harshawi, a Libyan affairs expert at the Royal United Services Institute, explained to our source on Wednesday that there are several reasons behind the weakness of the Libyan dinar, and that parallel printing of dinars is not the main cause. Al-Harshawi confirmed that the primary reason for the dinar’s weakness is the large amount […]
Reuters reported today, citing three informed sources, that unofficial Libyan banknotes exchanged for dollars have contributed to the decline in the value of the dinar. According to the sources, some of these banknotes were printed by Russia and shipped to eastern Libya this year, while others were illicitly printed within Libya. The sources also revealed […]
The “THE TIMES OF INDIA” newspaper reported, citing a senior executive at the Dangote Refinery in Nigeria, that they are in talks with Libya to secure crude oil for the refinery, which has a capacity of 650,000 barrels per day. The refinery will also seek to obtain oil from Angola as it strives to overcome […]
Our source has exclusively obtained a correspondence from the head of the Government of National Unity, Abdul Hamid Dbeibeh, to the Governor of the Central Bank of Libya. In it, he affirmed that delegating the Ministry of Finance to implement the imposed fee on foreign currency for grants to students studying abroad would result in […]
Abu Bakr Marwan, head of the Food and Drug Control Unit at Souq Al-Jumaa, denied during a statement to our source what has been circulated on social media about the reason for closing branches of Reem Shawarma, alleging the use of donkey meat. According to Marwan, the closure was due to non-compliance with standard specifications, […]
A sheep farmer from Benghazi spoke exclusively to our source, stating: “We cannot blame the state or approach it for help, as nothing has been provided to us as traders. For about two weeks, we have been suffering from foot-and-mouth disease, causing significant harm to many individuals.” He added: “The sacrificial animals we have available […]
A source at the Central Bank of Libya exclusively revealed to our source that, in celebration of Eid al-Adha and in coordination with the Banking Supervision and Currency Department, the cash withdrawal limit at ATMs of various banks has been increased to 1000 dinars daily and 1500 dinars weekly during the holiday. For instance, a […]
