The Central Bank of Libya stated exclusively to our source that it has officially launched a direct transfer service through its official platform to cover the needs of small traders, companies, suppliers, and craftsmen. The initiative aims to facilitate access for these categories to foreign currency at the official exchange rate and completely eliminate reliance on the black market.
The Central Bank added that, regarding external transfer procedures of up to $100,000 in accordance with Circular No. 2026/14, the booking and approval mechanism will follow the same process used for documentary credits through the booking platform fcms.cbl.gov.ly. A new category has also been added to the LCR foreign currency request system under the name “Direct Transfers” for uploading required documents.
This step is expected to streamline access to foreign currency for smaller economic actors while tightening control over official channels and reducing pressure on parallel market operations.
