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 […]
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 […]
