Our source at the National Commercial Bank revealed: “When leadership is under wise and youthful management, the results are more progress, more success, and ever-evolving capabilities.” The source stated that, under the directives of the General Manager of the National Commercial Bank, Ali Al-Khuwailidi, branches and agencies of the bank have been instructed to increase […]
Our source has obtained documents confirming that the General Electricity Company of Libya (GECOL) was the first entity to report a fuel supply shortfall estimated at $1.9 billion. The company officially notified the Attorney General’s Office to investigate the missing fuel and take necessary legal actions. Supporting documents are attached. Clarification from Power Plant DirectorsPower […]
In an exclusive statement to our source, Louay Al-Griw, advisor to the Libyan Investment Authority, emphasized the institution’s commitment to transparency. He highlighted that the UN Security Council’s adoption of the expert panel’s recommendations in Resolution 2769/2025 marks an unprecedented achievement for the LIA and serves the best interests of the Libyan people. Al-Griw confirmed […]
Today, Saturday, Radio France “RFI” conducted an interview with former Minister of Oil and Gas, Mohamed Aoun, who continues to fight to assert his legitimacy. His replacement, Khalifa Abdel-Sadiq, was immediately appointed in March 2024 by Prime Minister Abdul Hamid Dbeibah to manage the ministry’s ongoing affairs. It has now been about nine months since […]
Our source has obtained a letter from Atiyatallah Hussein Abdulkarim, Deputy of the Libyan Audit Bureau, addressed to its President, Khaled Shakshak. The letter highlights concerns over an increasing number of informal meetings between Audit Bureau officials, members, and employees with ministers, deputies, board members, and top state officials. These interactions, according to the letter, […]
Sada Economic has obtained a letter from Atiyatallah Hussein Abdulkarim, Deputy of the Libyan Audit Bureau, requesting the Chairman of the Libyan Investment Authority and the Governor of the Central Bank of Libya not to allow Mr. Reda Mohamed Gergab, who is seconded to the Investment Authority and appointed as a member of the Central […]
Our source has exclusively obtained a letter from the Public Prosecution addressed to the head of the Audit Bureau, Khaled Shakshak, requesting details on the evaluation and safety measures of the Audit Bureau’s building, which is owned by the Libyan National Shipping Company. The prosecution has asked the relevant department within the bureau to provide […]
Our source has exclusively obtained a letter from several members of parliament addressed to the Speaker of the House of Representatives and his first and second deputies. The letter calls for the urgent issuance of a decision ensuring that no state-funded entity is exempt from concurrent and subsequent oversight when contracting for project implementation.
In an exclusive statement to our source on Wednesday, economic researcher and analyst Ahmed Maharem expressed concerns about Libya’s uncertain future due to the dominance of armed groups over oil resources. He highlighted how these groups use revenues from smuggled oil to purchase weapons and fuel instability, which in turn discourages foreign investments. Maharem also […]
Our source has exclusively obtained a directive from the Central Bank of Libya to commercial banks regarding the resumption of accepting international payment cards on local point-of-sale (POS) terminals owned by Libyan banks. This decision aligns with the regulations outlined in Circular No. (2024/17), with a strict requirement that transaction fees do not exceed 2.5%.
U.S. Republican Party member Ihsan Al-Khatib told Sada Economic Newspaper on Wednesday that Libya faces a political crisis with economic consequences. While corruption exists in all countries, the issue in Libya lies in its scale. He noted that Libya, with its small population and vast oil wealth, has immense potential. Al-Khatib added that Libya can […]
The Central Bank of Libya revealed exclusively to our source that its Operations Department has completed the transfer of January salaries for all government sectors this evening. Salaries will be deposited into citizens’ accounts by relevant sectors and banks, accompanied by sufficient cash availability at all bank branches to ensure continuous withdrawals without interruption. The […]
The Central Bank of Libya, on Wednesday, February 5th, dispatched a new cash shipment from Mitiga Airport in Tripoli to Sebha City, carrying 52.4 million Libyan dinars. This move aims to support the cash reserves of the Central Bank branch in Sebha. The Central Bank will continue sending cash shipments gradually until all Libyan cities […]
In an exclusive report to our source, the Central Bank of Libya announced the dispatch of a new shipment of cash today. The shipment, carrying 120 million Libyan dinars, departed from Mitiga Airport in Tripoli and is headed to Benina Airport in Benghazi. This move is aimed at bolstering the reserves of the Central Bank […]
A report by the UN Security Council’s expert panel revealed that pressure was applied on the Audit Bureau, forcing it to approve a contract worth over $200 million for the importation of electricity meters for the General Electricity Company under the management of Al-Mishai. The contract was subcontracted to North Africa Holding for Development and […]
