The Central Bank of Libya confirmed in an exclusive statement to our source that the country’s foreign assets amount to nearly $99 billion. According to the Bank, an additional $2 billion will be injected if necessary, to meet the demand from small traders and suppliers and to stabilize the market.
The international news agency Reuters reported on Wednesday, quoting the Chairman of the National Oil Corporation, Masoud Suleiman, that 40 oil companies have expressed interest in participating in the current bidding round being conducted by Libya to obtain oil exploration rights. Suleiman added, during the ADIPEC Energy Conference in Abu Dhabi, that Libya’s current oil […]
The Central Bank of Libya confirmed exclusively to our source that it committed this week to selling $1.7 billion for letters of credit, traders’ cards, and personal purposes, while also issuing new approvals worth nearly $1.5 billion. The Bank added: “What’s happening in the market is the result of speculative activity and the failure to […]
The French intelligence website Africa Intelligence revealed today, Wednesday, that the release of Hannibal Gaddafi, son of Muammar Gaddafi, who has been detained for ten years, is conditioned on the payment of a large bail demanded by the Lebanese courts. The French website also indicated that this amount may soon be reduced or even completely […]
Member of the Board of Directors of the Central Bank of Libya, Fakher Abu Farneh, revealed exclusively to our source that the Central Bank of Libya had formed a committee nine months ago, which launched the banking investment initiative. The initiative centers on the possibility of establishing a banking holding company, an investment bank, a […]
A government source told our source that the Council of Ministers of the Government of National Unity has issued a decision to cancel the assignment of the Gaddad family’s company — Al-Bashir Printing and Advertising — which was contracted to supply school textbooks. This decision comes after the Public Prosecutor’s Office ordered the detention of […]
Written by Economic Expert Ibrahim Wali: The success of any nation in achieving progress and prosperity must rest on two main pillars:The first is the presence of an active, efficient, and transparent government supported by clear, decisive, and flexible legislation, as well as a favorable economic environment and infrastructure. The second is an energetic private […]
The Austrian oil company OMV announced on Tuesday the discovery of an onshore oil field off the coast of Libya. The National Oil Corporation (NOC) had announced late last week that OMV’s B-1 exploration well had successfully started flowing oil and gas. According to the NOC, the well was drilled to a total depth of […]
Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, stated:“The Central Bank is like a protective umbrella for the state — it safeguards its resources, whether from taxes or revenues of Libyan products. When institutions propose to directly intervene with the Central Bank, we must be cautious and protective of it. Today, there […]
Reuters reported on Tuesday, quoting Oil Minister Khalifa Abdul Saddeq, that Libya is considering increasing its oil production to 1.6 million barrels per day in 2026 and to 1.8 million barrels per day by 2027. Speaking at the ADIPEC Energy Conference in Abu Dhabi, Abdul Saddeq stated, “We have a mission to raise oil production […]
The Governor of the Central Bank of Libya, Naji Issa, stated regarding the Banking Investment Initiative that it is not necessarily meant to be implemented next month, but rather to be ready as part of a broader vision. He emphasized that without a comprehensive economic vision aligning all policies and defining real objectives, such a […]
Our source obtained a circular from the Secretary-General of the Cabinet of the Government of National Unity addressed to ministers and public institutions, mandating the adoption of electronic payment systems as the main and unified method for collecting fees, fines, and financial dues, as well as for any other transactions with citizens or clients across […]
Our source exclusively obtained a previous correspondence from the Minister of Finance of the Government of National Unity addressed to the Prime Minister, proposing a partial amendment to the budget regulations to include electronic payment methods among the receipts of main and subsidiary treasuries within the Ministry of Finance and public entities. Minister Khaled Al-Mabrouk […]
Our source exclusively obtained the decision of the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, granting authorization to the Ministry of Urban Planning to issue financial disbursement orders for the 2025 fiscal year. The government approved the allocation of 341.8 million Libyan dinars to the National Authority for Urban Planning to […]
The Central Bank of Libya revealed exclusively to our source that the Operations Department at the Bank will begin disbursing October salaries tomorrow through the “Instant Salary” system. This follows modifications made by the Ministry of Finance and the system’s subsequent return to the Central Bank for processing tomorrow.
