Our source exclusively obtained a letter from the President of the Audit Bureau, Khaled Shakshak, addressed to the Head of the Administrative Control Authority, Abdullah Qadurbouh, regarding the closing of the state’s final accounts. Shakshak said: “Clarifying the obvious of a scandalous matter, especially discussing basics, we avoided putting a sovereign oversight institution in embarrassment […]
A senior official at the Central Bank of Libya exclusively told our source: “The letters of credit reservation system has shown excellent results, enabling 2,900 companies to register for a total value of $2.5 billion. This was previously unavailable due to corruption, favoritism, and the domination of certain companies over banking transactions, which excluded some […]
Several small traders exclusively confirmed to our source that they have received approval messages from the new letters of credit platform. According to the traders, the approvals also included small traders.
The Independent newspaper reported today, Thursday, that after more than 10 years of closure due to the deterioration of the security situation in Libya at the time, Tunisia is reopening its consulate in the city of Benghazi. The newspaper pointed out that the decision to reopen the consulate comes as part of the Tunisian authorities’ […]
The Central Bank of Libya revealed exclusively to our source that approvals for the new letters of credit system have already begun, with customers receiving messages today regarding the approvals that were executed. According to the Central Bank, the pace will be faster in the coming days to approve everything loaded onto the system and […]
The Central Bank of Libya revealed in a statement exclusively to our source that it actually began at 9 a.m. selling $1.5 billion to commercial banks—$500 million for personal purposes as full settlements and $1 billion for letters of credit. The Central Bank had exclusively informed our source earlier about its commencement on Sunday of […]
The website Upstream revealed on Sunday that three companies holding stakes in one of Libya’s most important onshore oil assets are expected to sign an agreement “soon” to nearly double production to up to 700,000 barrels per day. The site noted that the investment plan is part of Libya’s goal to boost production to 2 […]
Despite his previous decision to ban fish exports and its subsequent withdrawal, the Minister of Economy in the Government of National Unity, Mohamed Al-Huwaij, has returned to grant approvals to several companies to export large quantities of fish, including “Ain Al-Roumia Al-Oula for Importing Foodstuffs and Meat,” which was granted permission to export 20,000 tons […]
Financial analyst Khaled Al-Zantouti told our source in an exclusive statement:“I am undoubtedly in favor of these regulatory measures — but what matters is their implementation.” He added:“Exchange companies are theoretically channels for buying and selling foreign currency and carrying out local and international money transfer services. They also play a positive role in supporting […]
Exclusive sources told Sada Economic Newspaper that the Minister of Economy in the Government of National Unity, Mohamed Al-Huwaij, is the one responsible for the imprisonment of the Director of the Trademarks Office at the Ministry of Economy, Salah Al-Hawali. According to the sources, Al-Hawali was officially appointed to manage the Trademarks Office, succeeding former […]
A senior official at the Central Bank of Libya stated exclusively to our source:“We expect the dollar to fall below 7.50 LYD next week following the injection of $1.5 billion through the foreign exchange system.” According to the source, this move will support the upcoming meeting with exchange companies and offices next Sunday, during which […]
The Central Bank of Libya announced that Governor Naji Mohamed Issa has approved the issuance of new final licenses for 52 exchange companies and offices, bringing the total number to 187 licensed entities covering all regions of Libya. In addition, 108 companies and offices have been granted preliminary licenses, as listed in the attached documents. […]
The Central Bank of Libya revealed in an exclusive statement to our source that it is currently studying a mechanism for the operation of exchange companies and offices, by providing them with foreign currency both in cash and through direct transfers. The Central Bank stated that once this package succeeds — including the withdrawal of […]
Libya affairs expert at the Royal United Services Institute, Jalel Al-Harchaoui, told our source on Sunday:“Despite the visit of Massad Boulos this month, I see no sign or evidence of progress in the negotiations.” He pointed out that some modifications were made to these talks concerning Libya’s overseas funds earlier this year, during the spring. […]
Akram Abdullah Al-Ghaziwi, Deputy General Manager of Takaful Insurance Company, told our source:“In many countries around the world, banks play a key role in marketing and selling insurance policies. This integration between the banking and insurance sectors is known as Bancassurance. Despite the global success of this model, Libyan banks remain outside this partnership framework, […]
