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 […]
Banking expert Nouman Al-Bouri argues that the liquidity crisis in Libya cannot be resolved by imposing withdrawal limits. People should be allowed to access the funds they need as long as their accounts cover the requested amounts. Imposing withdrawal restrictions only opens the door to the black market, creating opportunities for illicit profits. Conversely, if […]
Exclusive sources told our source that the former General Manager of Jumhouria Bank, Abdulrazaq Al-Tarhouni, who had previously been dismissed by the Governor of the Central Bank of Libya, was arrested over his involvement in several cases. The sources confirmed that investigations are still ongoing with him as part of a broad campaign aimed at […]
Financial expert Khaled Al-Zantouti told Sada Economic Newspaper that the rise in reserves for a country like Libya—which depends on a single source of income in a highly volatile oil market and has not developed alternative revenue streams—is extremely important. This contradicts what some so-called “commercial analysts” promote, namely that reserves should be fully used, […]
In his first-ever media statement, the Governor of the Central Bank of Libya, Naji Issa, told our source exclusively:“We have a well-structured action plan to resolve the liquidity bottleneck. A sufficient stockpile of cash is available, and we have the capability to inject funds in line with the needs of citizens and the economy. We […]
Economics Professor at the University of Benghazi, Helmi Al-Gmati, writes: The fall in the dollar’s exchange rate on the parallel market does not automatically or immediately translate into a similar drop in prices.The relationship exists, but it is constrained by several factors: the sustainability of the decline, the extent to which import needs are practically […]
Professor of Economics Anas Al-Amin writes about monetary policy in Libya and the exchange rate dilemma. The Libyan situation today represents a complex case where economic factors intertwine with political fragility and institutional division. Political instability and dual authority have created a turbulent monetary and financial environment, making it difficult for monetary policy to play […]
The Central Bank of Libya revealed exclusively to our source that an amount worth $400 million has been allocated for personal purposes. It confirmed that the sale of this amount to banks will begin next Sunday, following reconciliation and coverage by the banks.
The Central Bank of Libya confirmed exclusively to our source that the withdrawal of the 20 and 50 dinar banknotes is a historic achievement that saved the Libyan economy from a deeper collapse. It explained that Libya was heading toward becoming a “Venezuela 2,” and regardless of the repercussions some complain about, the consequences would […]
Sources told our source about a new intervention by security authorities to halt buying and selling operations in Al-Mushir market, at a time when the dollar is witnessing a noticeable drop below 7 dinars. This comes amid difficulties in stabilizing the rate at 6.98 due to these measures, with the dollar recorded at 6.94 dinars […]
The Central Bank of Libya revealed exclusively to our source that approximately $1.5 billion was sold to banks yesterday, and approvals were granted for new credits worth $1 billion. The Bank clarified that work is ongoing today, Thursday, to continue currency sales and to accelerate the approval process.
The Central Bank of Libya revealed exclusively to our source that its employees are continuing to work late into the night to grant approvals to banks and resolve pending issues in the credit system. The Bank emphasized its commitment to fulfilling previously agreed obligations and confirmed that the system will remain open to banks tomorrow, […]
Our exclusive sources revealed that the Council of Ministers of the Government of National Unity violated laws by amending the first paragraph of Article 15 of the Regulation on Securing Maritime Traffic to and from Ports, which concerns the presence of military intelligence personnel boarding docked ships. The sources added that the decision contravenes Customs […]
Our exclusive sources revealed that the Minister of Economy and Trade in the Government of National Unity, Mohamed Al-Huweij, granted an exemption to “Amasi Contracting” to export 100,000 tons of rebar, in addition to 50,000 tons of products from the Iron and Steel Company, despite his previous decision to ban iron and scrap exports. This […]
Our sources revealed that the decision to transfer the authority of the Free Zone Misrata Customs Center to the Director General of the Customs Authority, instead of the Misrata Customs Directorate, constitutes a clear violation of the Authority’s organizational structure and also breaches Customs Guard Law No. 68 of 1972. The sources added that the […]
