An official source at the Central Bank of Libya told our source exclusively that the foreign assets of the Central Bank, including foreign currency reserves, increased by $3 billion, reaching $98.4 billion by the end of September compared to $95.3 billion at the end of 2024. He added: “The Central Bank will announce more details […]
A number of traders told our source that they had received messages from the Central Bank of Libya confirming approvals for the letters of credit applications they had submitted. They pointed out that they have completed shipping procedures through the new platform designated for booking foreign currency.
The Central Bank of Libya revealed exclusively to our source that the Accounts Department has begun executing and selling USD 1.7 billion to banks to cover letters of credit, in addition to granting new approvals worth USD 2 billion. It confirmed that bank clients will receive an SMS notification once their letter of credit is […]
The Accounts Department at the Central Bank of Libya told our source exclusively that it has completed preparations to sell USD 1.7 billion to banks tomorrow, Wednesday, as well as reviewed new approvals already registered in the system for banks, amounting to USD 2 billion. The department explained that this step comes to facilitate the […]
The Central Bank of Libya told our source exclusively that tomorrow at noon will determine the state of the exchange rate in the parallel market, following the completion of the withdrawal of certain currency denominations, the injection of foreign currency into commercial banks, and the granting of a significant volume of letters of credit approvals […]
Our source has exclusively obtained the decision of the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, approving the first amendment to the operating agreement for Area 91 (Al-Nafoura – Awjila). This agreement is concluded between the National Oil Corporation, Austria’s OMV company, and the Arabian Gulf Oil Company.
Health insurance expert Abdul Monem Al-Shammam writes: Health Insurance in Libya Between Need and Necessity With the worsening crises facing the healthcare sector in Libya and the growing pressures on the state budget, health insurance emerges as both a practical alternative and an urgent necessity to provide citizens with quality and efficient medical care, while […]
Akram Abdullah Al-Ghziwi, Deputy General Manager of Takaful Insurance Company, writes: The Weak Contribution of the Libyan Insurance Sector to the Gross Domestic Product. Despite the long history of the insurance sector in Libya, its contribution to GDP remains relatively modest. It does not reflect the economic potential nor the growing societal need for risk […]
The Central Bank of Libya revealed exclusively to our source that it has begun implementing a plan to provide liquidity through commercial banks, within citizens’ monthly needs of 3,000 dinars, while maintaining a reserve of cash for the coming months and continuing to encourage the use of electronic payment methods. The Central Bank also began […]
The Central Bank of Libya revealed exclusively to our source that the disbursement of September salaries has begun today through the “Instant Salary” system, covering one million employees. The Bank stated: “We had hoped that the Ministry of Finance would transfer all those registered in the system to facilitate the salary disbursement process; however, the […]
Written exclusively for our source by advisor Mustafa Al-Manea: Libya and the World Bank “Consultative Cooperation, Not Borrowing.” Libya’s relationship with the World Bank has witnessed significant development recently, based on technical partnership and knowledge exchange, with no relation to borrowing from the Bank. The World Bank’s role is not limited to lending; it also […]
Oil law expert Othman Al-Hadhiri wrote an article in which he stated: What is the legal effect of considering the National Oil Corporation a sovereign institution under the supervision of the House of Representatives and the High Council of State? While following Libyan media, I learned that voices within the High Council of State—and perhaps […]
The Central Bank of Libya revealed exclusively to our source that a systematic campaign is being led by several anonymous pages against the Bank’s Governor, Naji Issa, following the Bank’s success in curbing the parallel market and narrowing the gap with the official exchange rate—an approach that is close to ending this phenomenon. The Central […]
The Central Bank of Libya has renewed its warnings to suppliers and small traders against buying dollars before October. Through our source, the bank reiterates that the parallel market is on the verge of an inevitable decline, balancing itself as several currency denominations are scheduled to be withdrawn in a single day, in accordance with […]
Written by economics professor Mohamed Al-Barghouthi: Why insist on the story of selling gold?! What lies behind the gold revaluation. After the Central Bank of Libya carried out a revaluation of gold—not selling part of its gold reserves, as has been circulated—there was widespread uproar due to the promotion of the false narrative of selling […]
