By Osman Al-Hdhiri, legal expert in the oil sector: The Libyan people have been closely following the alarming corruption cases recently revealed by the Attorney General—cases in which senior officials from ministries, authorities, and public companies stand accused. Instead of seeing a decisive and unwavering government response that prioritizes the nation’s interests, many citizens have […]
Our source has exclusively obtained the decision of the Council of Ministers of the Government of National Unity appointing a new president for the Authority of Medical Equipment, Supplies, and Devices. The decision assigns Ahmed Shabsh as President of the General Authority for Medical Equipment, Supplies, and Medical Devices.
Dr. Abdussalam Abdullah Nasiya wrote: Since the withdrawal of the new 20- and 5-dinar banknote denominations, Libya has been experiencing a new wave of financial suffocation. Scenes of long queues in front of banks and ATMs have resurfaced, amid the absence of any guarantee of obtaining cash. At the same time, as the exchange rate […]
Our special sources revealed that Rajab Bin Rajab, the current General Manager of the LPTIC, was arrested today under an arrest and summons order issued by the Office of the Attorney General. The arrest is related to allegations of embezzlement and financial and administrative violations.Mohamed Abu Qarin, the former Secretary of the Board of Directors […]
A report issued today, Tuesday, revealed that in 2021 Abdelhakim Baayo made headlines as the first person to officially register his name to run in Libya’s presidential elections. By that time, several government entities had accused him of mismanaging funds in a company affiliated with the Investment Corporation that he oversaw in Spain. According to […]
Our source has obtained exclusively the decision issued by the Government of National Unity (GNU), which stipulates the cancellation of all transactions carried out in favor of the North Africa Development and Investment Company owned by Fathi Al-Kikli. The decision states the annulment of all transactions made in favor of companies owned by it, partnered […]
The Libyan businessman Husni Bey told our source that every economic equation requires clear and responsible decisions. He pointed out that the Central Bank of Libya is obliged to sell a specific amount of dollars at a certain price in order to meet the financial obligations needed to cover the government(s)’ public expenditures, as 93% […]
Our source has exclusively obtained a letter from the Secretary-General of the Council of Ministers of the Government of National Unity to the Minister of Finance regarding the correspondence of the Chairman of the Management Committee of the Development Bank, which included a request to release the accounts frozen at the Libyan Foreign Bank based […]
Economic expert Idris Al-Sharif highlights a legal and constitutional flaw in Libya’s pension system that creates unequal benefits and calls for urgent reform.
Professor of Political Economy Mohamed Al-Barghouthi wrote an article in which he stated: Despite all the efforts of the Central Bank of Libya to control the monetary situation, the economic reality remains more fragile than ever before.What is happening today can only be described as a temporary postponement of a potential collapse, not real stability […]
The Central Bank of Libya stated exclusively to our source that shipments of cash began arriving in Libya today and will be delivered to the Issuance Department at the Central Bank. These shipments will continue to arrive in the coming period in preparation for distributing cash to branches of commercial banks starting from next December […]
The Central Bank of Libya revealed exclusively to our source that the Board of Directors has decided to inject more than $2 billion to cover existing letters of credit and personal-use allocations for commercial banks starting next Monday, the beginning of December. This measure aims to complete settlements before the end of the year and […]
The economic expert Idris Al-Sharif has written a proposal to address the Social Security Fund’s inability to implement the pension increases stipulated under Law No. 5 of 2013.The Social Security Fund is unable to implement the increases mandated by Law No. 5 of 2013 regarding raising retirees’ pensions, due to the absence of a sustainable […]
Our source has exclusively obtained a circular from the Central Bank of Libya addressed to commercial banks and their compliance units regarding the issuance of letters of credit. This follows the bank’s observation of weak compliance with regulatory and supervisory requirements aimed at mitigating risks that banks may face both locally and internationally. The Central […]
The First Deputy of the Municipal Guard Authority, Mohamed Al-Naem, explained to our source the reasons behind the boycott campaign launched by several food retailers in response to some companies enforcing cash-only payments. He stated that this campaign is part of consumer protection principles and is a legitimate option used against those who provide poor […]
