An official source at the Central Bank of Libya in Tripoli revealed to us, that a treaty on a technical mechanism has been reached to ensure that commercial banks use their balances with the Central Bank in Benghazi in a smooth, regulated, and monthly manner.
The official explained that this mechanism will enable banks to upraise their balances with the Central Bank of Tripoli, and revoke the restrictions on clearing cheques, this allows the banking system to operate normally, and it will also enable banks to provide liquidity and foreign exchange.
The official pointed out that this step comes in line with the efforts of unification of the Central Bank’s work, noting that the Central Bank of Libya in Tripoli had taken the initiative, during the past two months, to transfer shipments of liquidity directly to the Issuance Department of the Bank of Libya in Benghazi.
