The Chairman of the Board of Directors of Al-Baraka Insurance Company, Yahya Al-Barouni, stated to our source that, according to the official correspondence concerning the company, Al-Baraka Insurance was established in 2022 and began operations in 2023 with a new vision focused on incorporating technology into its business. He explained that the company implemented the […]
Written by Economics Professor Anas Al-Amin: The Central Bank of Libya recently announced a notable increase in foreign reserves — a clear indicator of improved management of external assets and the restoration of a degree of monetary stability. These figures reflect the bank’s success in managing oil revenues and efficiently employing them within the tools […]
The World Islamic Call Society told our source that Maltese authorities began seizing land owned by the association under a government allocation and judicial rulings, conducting surveying and excavation activities today without prior notice. The action comes as a result of the association’s failure to meet obligations related to taxes, social security, electricity, and salaries. […]
Our source obtained a letter from the Central Bank of Libya inviting commercial banks to subscribe to the first issuance of Absolute Murabaha Deposit Certificates, to be issued according to the periods and maturity dates detailed in the attached subscription announcement for each type. The first issuance will take place on Sunday, November 2, 2025, […]
Our source has obtained an exclusive letter from the Central Bank of Libya, addressed to the Libya Telecom and Technology Company and its subsidiaries. The letter urges these companies to ensure that all services provided to citizens are payable through electronic payment methods, while the bank expressed its readiness to cooperate on this matter. The […]
The Italian news agency Nova reported on Thursday that the General Union of Misrata Port Fishermen criticized the shortage of fuel, which prevents them from refueling their boats and going out to sea to work. A local source told Nova that the union organized a protest in front of Brega Oil Company’s headquarters in the […]
Our source obtained a letter from the Governor of the Central Bank of Libya, Naji Issa, to the Minister of Justice, in which he called for obligating all law firms, consultancy offices, and contract notarization offices to provide proof that they use electronic payment methods. This measure aims to enable citizens to pay service fees […]
The Central Bank of Libya exclusively confirmed to our source that it will begin sending cash shipments tomorrow to the cities of Benghazi and Ubari, after sending cash to Ghat today. This comes as part of the Bank’s planned strategy to ensure the availability of cash liquidity, following the directives of the Central Bank Governor, […]
The Central Bank of Libya exclusively confirmed to our source that it is working on settling the remaining letter of credit requests received from banks this week, amounting to $1.4 billion, as well as verifying personal purpose data for settlement. The Central Bank clarified that its team is coordinating with banks on coverage procedures and […]
Our source exclusively obtained the Central Bank of Libya’s circular addressed to all banks, urgently requesting them to take several measures — most notably to accelerate the process of issuing and delivering bank cards within a short timeframe that meets customers’ needs and enhances their satisfaction. The Central Bank also instructed banks to immediately address […]
Our source exclusively obtained the Central Bank of Libya’s circular to banks regarding its instructions to extend working hours until 5 p.m. starting from next Sunday until Thursday, October 16. This measure aims to give customers the opportunity to withdraw cash from their accounts. The banks must also inform customers through all social media platforms, […]
The Central Bank of Libya exclusively told our source that it continues to implement measures to support the value of the Libyan dinar. It explained that yesterday’s rise in the exchange rate resulted from panic and fear among some traders regarding the new compliance regulations discussed by the Bank with commercial bank directors. These regulations […]
Abdel Nasser Al-Naas, Director of Underwriting and Marketing at the African Reinsurance Corporation & International Insurance Expert wrote: The Libyan insurance sector is facing an unprecedented state of chaos, with around 77 active insurance companies in a small market with limited capacity and resources.This numerical inflation does not reflect genuine growth but rather represents what […]
Our source has exclusively obtained a correspondence from the Central Bank of Libya to the banks regarding the pricing controls for banking services. The correspondence included the Central Bank’s instructions not to impose any banking commissions on cash withdrawals by individuals using a bank check, with a maximum amount of 2,000 dinars.
Economic expert Ali Al-Sharif wrote a post stating that in economic circles, the issue of fixing or floating the Libyan dinar is being debated. This matter is linked to monetary policies and their impact on the macroeconomy. It is well known that the purpose of adjusting the exchange rate of any currency is to address […]
