Our source has exclusively obtained a letter from the Minister of Economy addressed to the Director General of the Customs Authority, issued in implementation of instructions from the Central Bank of Libya to the Ministry of Economy. The letter bans all import, export, and re-export activities unless conducted through banking operations approved by the Central […]
The French intelligence website Africa Intelligence reported on Monday that the National Body for the Development of Eastern Libya is seeking several foreign investors. The French website confirmed that Mahmoud Al-Farjani, Executive Director of the National Democratic Rally affiliated with the Libyan National Army led by Khalifa Haftar, is meeting with top Qatari investors and […]
Banking sources have revealed that the Central Bank of Libya has initiated comprehensive reform steps within the administrations of commercial banks, starting with structural changes affecting a number of leadership positions — most notably, the replacement of the General Manager of Jumhouria Bank, who had held the position for over ten consecutive years. According to […]
The Central Bank of Libya has revealed revenues and expenditures from January 1 to June 30, reporting total revenues of 61.3 billion LYD, while expenditures amounted to 57 billion LYD. According to the Central Bank’s statement, oil sales revenues reached 51.5 billion LYD, and oil royalty revenues stood at 9.3 billion LYD. Tax revenues amounted […]
Chairman of the Board of Afriqiyah Airways, Ahmed Al-Turki, told our source that despite the airline’s heavy financial obligations, there has been significant progress in operations and maintenance. Al-Turki confirmed important updates in operational matters that signal a partial breakthrough amid the financial challenges facing the company. He noted that Istanbul Station is set to […]
A report published by Africa Confidential magazine has revealed the network of American banks used by Muammar Gaddafi to secretly transfer around $50 billion out of Libya between 1994 and 2011. According to the report, between 1972 and 2023, Libya generated $1.25 trillion in oil revenues. Between 1994 and 2011 — the last 15 years […]
Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya, Naji Issa, addressed to the Rapporteur of the Planning and General Budget Committee in the House of Representatives. In it, the Governor asserted that the Central Bank is unable to provide comments on the 2025 budget draft, stressing the […]
In an exclusive statement to our source, Eng. Mohamed Asti, Technical Director of Arkanu Oil Services Company, revealed that the company has officially begun development operations at the Mezda and Sarir oil fields with the goal of increasing production. This follows the signing of an agreement with the National Oil Corporation, allowing Arkanu to carry […]
The Italian news agency Nova reported on Sunday that Italy reaffirmed its position as Libya’s main trading partner during the first quarter of 2025. Despite a slight decrease in total trade volume, a study conducted by Italy’s foreign trade promotion agency “ICE-Agency,” based on data from the Italian Institute of Statistics (Istat) and the Ministry […]
In an exclusive interview with our source, Libyan businessman Husni Bey made a direct appeal to the President of the Audit Bureau, Khaled Shakshak, calling for justice and correction of what he described as a “grave injustice” inflicted on his companies and their directors. This came as a result of what he called a malicious […]
In a recent article, Ahmed Zahir wrote: “Social class has always been a reflection of the nature of the economy. In agrarian societies, elites derived their power from land ownership and the ability to organize labor within it. In pre-oil Libya, the social structure was influenced by this pattern. A powerful class of large landowners […]
The American Bloomberg Agency reported today, Wednesday, citing the National Oil Corporation (NOC) of Libya, that Chevron and TotalEnergies are competing in the first oil exploration bid in Libya since the conflict in 2011, aiming to help increase production. Masoud Suleiman, Chairman of the Board of the National Oil Corporation, said in an interview with […]
The World Bank revealed today, Tuesday, a report stating that the Libyan economy showed promising signs of recovery during 2024 and remained resilient despite challenges stemming from its reliance on hydrocarbons and the ongoing political and security instability. According to the World Bank’s latest report on Libya, the economy contracted by 0.6%, mainly due to […]
The Central Bank of Libya exclusively revealed to our source that it began this morning processing letters of credit and personal use requests allocated a total of $1 billion for this week. This move aims to stabilize the market and provide foreign currency to importers—especially small traders.
The Central Bank of Libya told our source exclusively: “As part of its commitment to fairness and equal opportunity among suppliers of goods and services, an electronic system will be launched starting in early August to accept letters of credit applications through banks. This system will allow suppliers to submit their requests digitally, and the […]
