Economic expert, Mohamed Al-Sanussi, stated in an interview with our source that the decision to grant licenses to a group of exchange offices is an excellent one, despite being delayed by at least ten years. The regulation of exchange office operations should have occurred as early as 2013, as the number of exchange offices and […]
International expert Yassin Abusriwil spoke exclusively to our source, stating:In light of the economic challenges Libya faces, the Central Bank of Libya seeks to implement measures aimed at regulating the foreign exchange market and enhancing financial stability. Among these measures is the activation and regulation of exchange services—a decision that carries clear economic objectives but […]
Financial expert Khaled Al-Zantouti has written an article addressing the increasing reports from international organizations regarding mismanagement, corruption, and the exploitation of public resources for personal and illegitimate gains by both official and unofficial entities. The recently published UN Panel of Experts report, spanning around 300 pages with annexes, data, and charts, presents clear evidence […]
Economic expert Mohammed Khaled Al-Ghwil told our source that activating exchange services is an important step in regulating the currency trading market. He added, “We hope this will be the first in a series of interconnected executive measures within a well-thought-out monetary policy, forming part of a comprehensive package of sound economic policies aimed at […]
Economic expert Saber Al-Wahsh stated exclusively to our source that following the Central Bank of Libya’s board meeting in Derna, it is likely that the bank has received assurances to curb or unify spending. He added that a key indicator of this is the continued unrestricted sale of foreign currency, supported by the regular inflow […]
Banking sources revealed exclusively to our source that the Central Bank of Libya has granted final operating licenses to 64 exchange companies and offices, allowing them to commence operations starting today. The official announcements, including the names of the licensed companies and offices, will be published on the Central Bank of Libya’s website.
The Central Bank of Libya revealed exclusively to our source that foreign currency sales for all purposes are proceeding smoothly, with the bank covering all demands received through the letters of credit and card systems. The bank also expects the dollar exchange rate to drop below 6.35 LYD this week after reaching 6.40 LYD per […]
Former board member of the Central Bank of Libya, Mrajaa Ghaith, spoke to our source regarding the activation of exchange services. He stated that the 2013 decision approved the establishment of exchange offices under the condition that they would not obtain foreign currency from the Central Bank. “If the Central Bank currently provides foreign currency […]
The Head of the Accounting Department at the Libyan Academy, Dr. Abu Bakr Abu Al-Qasim, spoke exclusively to our source, stating: “The decision by the Governor of the Central Bank of Libya to grant operating permits to 64 exchange companies and offices is a highly commendable step. It comes after repeated demands to regulate and […]
Libyan businessman Hosni Bey told our source exclusively: “After 12 years of waiting since submitting applications for exchange office licenses in compliance with the law, the Central Bank of Libya has granted permits to practice the profession under the supervision of the relevant administration within the Central Bank.” He added, “Finally, exchange office licenses are […]
Our source has obtained a letter from the Head of the Audit Bureau, Khaled Shakshak, addressed to the Libyan Foreign Bank, instructing it to freeze the accounts of the Mediterranean Company and halt any transactions from those accounts. Shakshak also directed the Chairman of the National Oil Corporation to assign committees to audit the company’s […]
A special source revealed to our source that the exchange rate of the dollar in the parallel market is expected to drop below 6.4 Libyan dinars this week. It is worth noting that an agreement was reached between the Central Bank of Libya, the National Oil Corporation, with support from the Audit Bureau and the […]
Our source has obtained a letter from the Head of Abu Salim Municipality to the Head of the Administrative Control Authority regarding the economic reform initiative. The letter emphasizes that the municipality has taken proactive measures by closely monitoring the country’s economic situation and committing to guidelines aimed at controlling and rationalizing spending during 2023 […]
The Central Bank of Libya exclusively revealed to our source that an agreement was reached with the National Oil Corporation, supported by the Audit Bureau and the Public Prosecutor’s Office, to transfer oil revenues to the Central Bank on a daily basis. This arrangement has facilitated the bank’s ability to meet foreign exchange requests starting […]
A source at the Central Bank of Libya exclusively disclosed to our source the foreign exchange system report for February 2. The source stated that $484 million was reserved for personal purposes, while $276 million was sold from previous reservations. Additionally, $243 million was allocated to cover previous letters of credit, and approximately $300 million […]
