Our source obtained exclusively a circular from the Central Bank of Libya to banks regarding the activities conducted by licensed exchange companies and offices in foreign currency transactions. These activities include buying and selling foreign currency with a maximum margin of 7%. Licensed exchange companies and offices are also authorized to process transactions through banks’ […]
Our source has obtained a copy of the Central Bank of Libya’s instructions to commercial banks, permitting national industrial companies operating in Libya—and meeting all legal requirements—to transfer installments of loans obtained from foreign banks or financial institutions. This is conditional on obtaining prior approval from the Banking and Currency Supervision Department for transferring these […]
Exclusive sources told our source that the Minister of Economy in the Government of National Unity, Mohamed Al-Huwaij, decided to transfer part of the ministry’s powers to a committee comprising figures mostly from outside the ministry, noting that these tasks fall within the core work of the Experts Office and the Studies Department at the […]
Economic expert Mohamed Abu Snina wrote in an article: “For years, Libyans have been accustomed to waiting—whether to obtain a commodity or service, to complete a certain procedure, to hear news that affects their interests, or to follow events in the country, including the UN Secretary-General’s envoy briefings to the Security Council, which have become […]
Our source has exclusively obtained a circular from the Central Bank of Libya addressed to banks, permitting holders of foreign currency bank accounts—individuals and entities—to deposit cash into these accounts up to an amount of $10,000 (ten thousand U.S. dollars) or its equivalent in other foreign currencies. According to the circular, if the amount to […]
The French magazine Jeune Afrique reported on Sunday that U.S. President Donald Trump is focusing on Libya’s oil and gas sector as part of his broader “African Resources Diplomacy” strategy, which is based on the principle of trade rather than aid. The report noted that after prioritizing rare and strategic minerals in other African countries, […]
The Director of the Media Office at Brega Petroleum Marketing Company, Ezzeddin Saeed, revealed to our source exclusively: “3 million liters were supplied to the Tripoli Central area, in addition to supplying 75 fuel stations within Tripoli yesterday, Friday.” Saeed continued: “The allocations for Saturday, amounting to 7.8 million liters, began to be implemented for […]
The legal expert in the field of oil, Othman Al-Hudairi, told our source newspaper exclusively:The fuel crisis in Libya is chronic and worsening day by day, with car queues stretching for kilometers like prayer beads in front of fuel stations across the country. It is one of the most prominent crises affecting the daily life […]
Our source exclusively obtained a letter from the President of the Audit Bureau, Khaled Shakshak, addressed to the Head of the Administrative Control Authority, Abdullah Qadurbouh, regarding the closing of the state’s final accounts. Shakshak said: “Clarifying the obvious of a scandalous matter, especially discussing basics, we avoided putting a sovereign oversight institution in embarrassment […]
A senior official at the Central Bank of Libya exclusively told our source: “The letters of credit reservation system has shown excellent results, enabling 2,900 companies to register for a total value of $2.5 billion. This was previously unavailable due to corruption, favoritism, and the domination of certain companies over banking transactions, which excluded some […]
Several small traders exclusively confirmed to our source that they have received approval messages from the new letters of credit platform. According to the traders, the approvals also included small traders.
The Independent newspaper reported today, Thursday, that after more than 10 years of closure due to the deterioration of the security situation in Libya at the time, Tunisia is reopening its consulate in the city of Benghazi. The newspaper pointed out that the decision to reopen the consulate comes as part of the Tunisian authorities’ […]
The Central Bank of Libya revealed exclusively to our source that approvals for the new letters of credit system have already begun, with customers receiving messages today regarding the approvals that were executed. According to the Central Bank, the pace will be faster in the coming days to approve everything loaded onto the system and […]
The Central Bank of Libya revealed in a statement exclusively to our source that it actually began at 9 a.m. selling $1.5 billion to commercial banks—$500 million for personal purposes as full settlements and $1 billion for letters of credit. The Central Bank had exclusively informed our source earlier about its commencement on Sunday of […]
