In a conversation with our source, Jalel Al-Harchaoui, a Libya affairs expert at the Royal United Services Institute, confirmed that a currency trader at Wahda Bank in Benghazi allegedly deposited checks worth 280,000 dinars and immediately cashed them out despite the checks not being backed by corresponding deposits in another bank. As a result, all […]
Our source has obtained a correspondence from the Director of the Supervision Department at the Central Bank of Libya addressed to the Chairman of the Board of Directors of Sahara Bank. The correspondence invites the Board of Directors and the Supervisory Committee to attend a meeting scheduled for Thursday, June 6, at the Supervision Department’s […]
The Chairman of the General Federation of Chambers of Commerce, Industry, and Agriculture and the Chairman of Al-Naseem Company, Mohamed Al-Raied, spoke exclusively to our source stating that our product prices have become reasonable due to their availability. Therefore, goods increase in price when they are not available in the market. He added: “Certainly, Al-Naseem’s […]
Our source has obtained a communication from the Central Bank of Libya to the general managers of banks, adding regulations for credits that require adherence to not accepting pro forma invoices issued by general trading companies. Additionally, the company issuing the pro forma invoice must be registered with the relevant authorities, including the Ministry of […]
Today, ABC Bank Group (Arab Banking Corporation B.S.C.), whose shares are traded on the Bahrain Bourse under the symbol “ABC,” announced its financial results for the first quarter of 2024. The group started the year on a strong footing, achieving a net profit of $75 million in the first quarter, marking a 25% increase compared […]
The Marketing Department at Jumhouria Bank stated to our source that the bank is committed to providing services and overcoming difficulties for all traders by granting them Point of Sale (POS) systems. This is to facilitate customers in obtaining their needs from shops, markets, malls, butcher shops, and livestock traders. Additionally, the bank is also […]
Mustafa Al-Manea, a member of the Libyan delegation to the International Monetary Fund (IMF) and World Bank meetings, stated to our source: “We followed with interest the report issued today on the Article IV consultations with the IMF, held in Tunis last week. The report emphasized the IMF’s focus on gaps in the banking sector […]
Professor of Economics at the Libyan Academy, Dr. Omar Zarmouh, stated in an interview with our source, commenting on the speech of the Governor of the Central Bank of Libya, number (11/1201), addressed to the Prime Minister of the National Unity Government on 2024/03/21: The Governor’s speech addressed a number of important and intriguing economic […]
Africa Intelligence, the French intelligence website, reported today, Monday, that the family of Dbeibeh tightened its grip on the Ministry of Oil in Tripoli. The French agency confirmed that the Minister of Oil, Mohamed Aoun, was replaced by Khalifa Rajab Abdel-Sadeq, by the signature and seal of Ibrahim Ali Dbeibeh, the National Security Advisor and […]
Our source at the Central Bank of Libya revealed a statement about the imminent opening of the credit and personal items system at the new price. According to the source, the personal items system will open after the decision is circulated to the banks, and the credit system will open upon acceptance of credits for […]
Our source has exclusively obtained a letter from the Public Prosecution Office to the Real Estate Registration Authority requesting the seizure of properties related to Al-Ejma’a Al-Arabi Bank, totaling (22) properties. This comes in addition to a previous decision to seize (24) properties, bringing the total number of properties seized as part of the bank’s […]
Khalifa Al-Daghari, a member of the Financial Committee of the House of Representatives, exclusively stated to our source on Wednesday, March 13, that imposing a fee on the sale of foreign currency falls under the jurisdiction of the Central Bank of Libya, and as a parliament, we have been informed about this issue. Regarding the […]
Our source has exclusively obtained a statement from 34 members of the House of Representatives, where the members held the Central Bank of Libya Governor fully responsible for the economic situation in the country, as he is tasked with managing monetary policy in coordination with fiscal and commercial policies, and in accordance with the state’s […]
Member of the Financial Committee in the House of Representatives, Khalifa Al-Daghari, exclusively revealed to our source the committee’s meeting today with the Governor of the Central Bank of Libya and the Director of Banking and Monetary Control. Preliminary approval was also granted for the adjustment of the exchange rate through the imposition of fees […]
A source from the House of Representatives exclusively revealed to our source that the Financial Committee of the House of Representatives has approved the proposal of the Central Bank of Libya to impose a 27% fee on the exchange rate to be the applicable rate. Starting from next week, the exchange rate will be between […]
