The Central Bank of Libya confirmed in an exclusive statement to our source that a large-scale purchase of foreign currency is contributing to the rise in the dollar exchange rate. The source of these purchases is one of the commercial banks, which finances the expenses of certain entities and destinations for the currency in some […]
Economic expert Idris Al-Sharif told our source exclusively: “The Libyan economy is a simple cash-based economy. Despite efforts to expand electronic payment services, which have achieved remarkable success over the past year, the preference for liquidity—arising from the fact that many economic activities and transactions can only be conducted in cash—forces citizens to seek cash […]
By Economic Expert Ibrahim Wali: The central bank is not merely a governor, a deputy governor, and a group of employees — it is a collective of minds possessing scientific knowledge and vast experience in monetary, economic, and legal affairs. These minds operate within an institution endowed with broad powers and independence in the exercise […]
In an exclusive statement to our source, economic expert Dr. Suleiman Al-Shahoumi said that the current situation, which has deepened check speculation, must be studied carefully. He explained that withdrawing cash from circulation without providing effective electronic alternatives has inevitably widened the gap between cash and checks. He continued: “The Central Bank of Libya must […]
Economics professor at the University of Benghazi, Ali Al-Sharif, told our source exclusively that eliminating currency speculation requires maintaining a steady supply of goods and services in the market to gradually eliminate excess demand. This, he explained, would significantly narrow the gap between supply and demand, limiting opportunities for speculation until they disappear naturally — […]
An economic report by the Italian news agency Nova on Sunday revealed that the value of trade exchange between Italy and Libya fell to €4.76 billion between January and June 2025, compared to €6.02 billion during the same period in 2024 — a decline of about 21%. The report attributed this drop to a decrease […]
The Central Bank of Libya revealed exclusively to our source that the total value of letters of credit approved by banks through the credit platform reached $7 billion, and these have been verified and forwarded to the Central Bank on a regular basis since August. It added that it continues to process and approve these […]
Our source revealed that that among the most prominent violations recently raised regarding the performance of the current management of African Airlines is its contract with an insurance company that does not meet the required technical and legal conditions. Correspondence from the Insurance Supervision Authority revealed that the issued insurance policies are invalid and provide […]
The Chairman of the Board of Directors of Al-Baraka Insurance Company, Yahya Al-Barouni, stated to our source that, according to the official correspondence concerning the company, Al-Baraka Insurance was established in 2022 and began operations in 2023 with a new vision focused on incorporating technology into its business. He explained that the company implemented the […]
Written by Economics Professor Anas Al-Amin: The Central Bank of Libya recently announced a notable increase in foreign reserves — a clear indicator of improved management of external assets and the restoration of a degree of monetary stability. These figures reflect the bank’s success in managing oil revenues and efficiently employing them within the tools […]
The World Islamic Call Society told our source that Maltese authorities began seizing land owned by the association under a government allocation and judicial rulings, conducting surveying and excavation activities today without prior notice. The action comes as a result of the association’s failure to meet obligations related to taxes, social security, electricity, and salaries. […]
Our source obtained a letter from the Central Bank of Libya inviting commercial banks to subscribe to the first issuance of Absolute Murabaha Deposit Certificates, to be issued according to the periods and maturity dates detailed in the attached subscription announcement for each type. The first issuance will take place on Sunday, November 2, 2025, […]
Our source has obtained an exclusive letter from the Central Bank of Libya, addressed to the Libya Telecom and Technology Company and its subsidiaries. The letter urges these companies to ensure that all services provided to citizens are payable through electronic payment methods, while the bank expressed its readiness to cooperate on this matter. The […]
The Italian news agency Nova reported on Thursday that the General Union of Misrata Port Fishermen criticized the shortage of fuel, which prevents them from refueling their boats and going out to sea to work. A local source told Nova that the union organized a protest in front of Brega Oil Company’s headquarters in the […]
Our source obtained a letter from the Governor of the Central Bank of Libya, Naji Issa, to the Minister of Justice, in which he called for obligating all law firms, consultancy offices, and contract notarization offices to provide proof that they use electronic payment methods. This measure aims to enable citizens to pay service fees […]
