The Central Bank of Libya exclusively told our source that it continues to implement measures to support the value of the Libyan dinar. It explained that yesterday’s rise in the exchange rate resulted from panic and fear among some traders regarding the new compliance regulations discussed by the Bank with commercial bank directors. These regulations […]
Abdel Nasser Al-Naas, Director of Underwriting and Marketing at the African Reinsurance Corporation & International Insurance Expert wrote: The Libyan insurance sector is facing an unprecedented state of chaos, with around 77 active insurance companies in a small market with limited capacity and resources.This numerical inflation does not reflect genuine growth but rather represents what […]
Our source has exclusively obtained a correspondence from the Central Bank of Libya to the banks regarding the pricing controls for banking services. The correspondence included the Central Bank’s instructions not to impose any banking commissions on cash withdrawals by individuals using a bank check, with a maximum amount of 2,000 dinars.
Economic expert Ali Al-Sharif wrote a post stating that in economic circles, the issue of fixing or floating the Libyan dinar is being debated. This matter is linked to monetary policies and their impact on the macroeconomy. It is well known that the purpose of adjusting the exchange rate of any currency is to address […]
Our source has exclusively obtained the Central Bank’s circular to banks regarding the pricing regulations for electronic services. The circular outlines the maximum fees and commissions for accounts and basic banking services for retail clients (individuals). These include opening a new current account (regular or electronic) with a maximum one-time fee of 20 dinars, and […]
Our source exclusively obtained the circular from the Central Bank of Libya outlining strict rules for banking service pricing. Banks are required to fully comply, avoid imposing any fees not specified, and disclose all banking service charges transparently. The regulations include withdrawal commissions as follows:
The international economic website Construction Review reported on Monday that in 2024, the governments of Nigeria and Libya held negotiations over the proposed Nigeria–Libya gas pipeline project, which aims to build a regional gas pipeline connecting the two countries. According to the website, the talks took place between Nigeria’s Minister of State for Petroleum Resources, […]
By: Professor of Political Economy, Mohammed Al-Barghouthi Amid the economic shifts taking place in Libya and the complex financial and political challenges surrounding them, the issue of gold revaluation has emerged as one of the most significant developments in managing the country’s reserves.While debate has intensified over whether the Central Bank of Libya (CBL) sold […]
The Central Bank of Libya revealed exclusively to our source that it is currently studying the establishment of regulations to permit direct foreign currency transfers to the Chinese market. The Bank also disclosed that it is examining the possibility of allowing imports through documents against collection for certain sectors—particularly the industrial sector—under specific regulatory conditions.
Our source has exclusively obtained a circular from the Central Bank of Libya addressed to commercial banks, instructing them to provide their branches—especially those located outside the city of Tripoli—with the necessary cash liquidity. The circular directed issuance departments in various cities to notify their respective branches and confirmed that the Issuance Department and its […]
The Central Bank of Libya revealed exclusively to our source that it has begun this morning completing approvals for letters of credit and the sale of foreign currency to banks for documentary credits, personal purposes, and traders’ cards. The bank also confirmed that operations are proceeding smoothly and efficiently.
Rabie Shrair, head of the Forums for Sector Development, has urged Libyan banks and oil companies to urgently seek immediate alternatives to Oracle’s systems after evidence surfaced of the company’s unconditional support for the Zionist lobby in the United States. In a press statement, Shrair said: “Libyan banks and oil companies must urgently start searching […]
A Zambian diplomat named Emmanuel Mwamba has revealed a scandal involving a Libyan national who is under investigation for embezzling $800,000. According to the diplomat, Shukri Al-Juaidi, a Libyan residing in Zambia, embezzled $800,000 USD through fraud, land grabbing, and abuse of power. The Libyan Audit Bureau stated that Al-Juaidi fraudulently included excessive penalty clauses […]
The Spanish newspaper Barca News reported on Saturday that FC Barcelona has faced financial difficulties in recent years, leading the club to participate in numerous friendly matches — in addition to an already packed schedule, sometimes even mid-season — in order to generate much-needed revenue. According to the report, the club held friendly matches in […]
The Central Bank of Libya revealed exclusively to our source that starting tomorrow, it will continue granting approvals for letters of credit worth $1 billion, bringing the total approvals by the end of the week to $2 billion, until all credits listed on the reservation platform are settled. The Bank’s Accounts Department is also continuing […]
