Our source obtained exclusively the letter of the President of the Administrative Control Authority in Tripoli, Suleiman Al-Shanti to the Director of Al-Wahda Bank, Bin Jawad Branch, and the Director of the National Commercial Bank, branch of Ras Lanuf.
Whereas, you are urgently requested to seize the accounts of the hospital on your side, except for the salaries account, and not to release any amounts related to it until after making sure that the damage has been lifted from the Administrative Control Authority.
The liquidity team of the Central Bank of Libya revealed exclusively to our source that at these moments, a liquidity shipment worth 17 million dinars coming from Tripoli, arrived at Kufra Airport, as part of the Central Bank of Libya’s plan to provide liquidity in all branches of commercial banks.
8 million were allocated to the branches of Jumhouria Bank, 5 million to Wahda Bank, and 4 million to North Africa Bank. The liquidity team is working to transfer additional liquidity shipments to bank branches in the eastern region.
An official source at the General Electricity Company revealed exclusively that the correspondence to purchase cars for the board of directors is forged and incorrect.
According to the source, the reference number in the letter is related to another correspondence that includes a request by the Procurement Committee to provide stationery.
An expert in maritime transport economics, Dr. Abdullah Al-Tarhouni, revealed exclusively to our source regarding the price reduction, saying: “The reduction included some commodities and all of them. It is just a temporary problem in an unstable market, as the Libyan economy is going through a stage of stagflation, which is caused by the decline in family demand, in addition to the collapse of the prices of other commodities within the domino theory that seems to be coming, but slightly.”
He added: “The decline in global sea shipping rates by more than 40% since the beginning of the year has a slight reason, but it will be obvious before Christmas and New Year’s Day. After the outbreak of the pandemic during the first three quarters of 2020, the global demand returned at a rapid pace in the fourth quarter of the year 2020, which led to a deficit in the implementation of some requests, and at the same time led to an increase in the great demand for the services of shipping companies and the lack of preparation of containers due to their overcrowding in the ports. What made it worse is the rise in oil prices as a result of the increase in demand and all these factors combined led to unprecedented inflation in the prices.”
He continued: “But, it is natural that there will be self-corrections in the market from time to time, in return for all that real estate prices remain high and unrealistic at all, and there may be hidden hands behind the exacerbation of this phenomenon. However, the final blow to small traders will be in changing the exchange rate that is supported by the stability of global oil prices and increased production from Libyan fields.”
The Minister of Social Affairs in the Government of National Unity, Wafa Al-Kilani, stated exclusively to our source regarding the latest developments in the grant for the wife and children, saying: “We are receiving the wife’s grant cards from Jumhouria Bank with serial numbers, weekly.”
She added: “There is an update of all the operations carried out by the wife and children grant project. They are sent to the municipalities and submitted to those concerned on a daily basis.”
She concluded: “The ministry will launch two inquiry platforms for the children’s grant under the age of eighteen, as well as the wife’s grant.”
Our source obtained exclusively the decision of the Board of Directors of the National Oil Corporation in its capacity as the General Assembly of the Mediterranean Oil Operation Company N° 87 for 2022, regarding the restructuring of its Board of Directors.
The resolution stipulated that the board of directors of the Mediterranean Oil Operation Company would be formed, with Hussein Abdullah Saffar as Chairman, and the membership of Najmi Mohamed Karim, Ibrahim Ahmed Abu Bridaa, Ramadan Yakhlaf Ben Shaaban and Mohamed Husni Al-Misbahi.
The liquidity team of the Central Bank of Libya revealed exclusively to our source that at these moments, a liquidity shipment worth 60 million dinars arrived at Benina Airport in Benghazi, coming from Tripoli to the branches of Jumhouria Bank.
The liquidity team is working to transfer liquidity shipments to the rest of the bank branches in the eastern region, within the framework of the Central Bank’s plan to provide liquidity in all branches of commercial banks.
The director of Tripoli University Hospital, Nabil Al-Ajili, confirmed exclusively to our source that he was released after his arrest in 2020.
Al-Ajili was arrested after the publication of the report of the Food and Drug Control Center on the collapse of the health organization in the hospital.
Jumhouria Bank announced to all its customers the imminent launch of the update of the banking system to the new version, Oracle FlexCube Version 14.3, in the coming days.
The modern version is one of the best technologies used in banking systems locally and internationally, enabling all customers to obtain the best banking services and new products that are compatible with the provisions of Islamic Sharia.
This is in addition to the quick solutions that the system will provide in electronic payment services for both the individual and corporate sectors, with the best technologies and banking solutions. The bank affirms its full commitment to work closely to serve the Libyan people in the best way.
The Minister of Oil and Gas in the Government of National Unity, Mohamed Aoun, discussed with the Minister of Finance, Khaled Al-Mabrouk, ways to overcome difficulties in supporting the oil and gas sector to maintain and increase the rate of production.
This came in a meeting that Aoun held with Al-Mabrouk at the Ministry of Oil and Gas on Thursday, where the two parties also discussed the mechanism for implementing the decision to increase salaries for oil sector employees, based on Prime Minister Abdul Hamid Dbeibeh’s decision 204 regarding increasing the salaries of oil sector workers.
It is noteworthy that the head of the National Oil Corporation, Farhat Ben Gdara, has addressed the oil companies affiliated with the Corporation, to quickly communicate with the Financial Department of the National Oil Corporation, to work on the planned increase for oil sector workers, by 67%.
The liquidity team of the Central Bank of Libya revealed exclusively to our source that Gharyan branch issued a liquidity shipment of 40 million dinars to the branches of the Jumhouria Bank in Jebel Nafusa, as part of the continued implementation of the Central Bank of Libya’s plan to provide liquidity in all branches of commercial banks and in all regions of Libya.
7 million were allocated to Ghorban branch,5 million to Asabaa branch, 4 milliont Gharyan Islamic banking branch, 4 million to Al-shgega branch, 4 million to Gharyan branch, 4 million to Nesma branch, 3 million to Al Qurayyat branch, 3 million to Ashwayrif branch, 3 million to Mizdah branch, and 3 million to Qawasim branch. The team confirms Liquidity in the Central Bank of Libya continues to transfer cash shipments to the rest of the Libyan cities.
The liquidity team of the Central Bank of Libya revealed exclusively to our source, the arrival of a liquidity shipment of these moments by air to the city of Ubari, with a value of 18 million dinars, as part of the continued implementation of the Central Bank of Libya’s plan to provide liquidity in all branches of commercial banks.
10 million were allocated to the National Commercial Bank and 8 million to the Jumhouria Bank. These shipments come to provide liquidity for the disbursement of salaries for the month of August.
The journalist specialized in the economic field, Ahmed Al-Sanussi, commented on the Kharafi Company case by saying that “there is a clear distortion of the information provided by the head of the Libyan Investment Authority, Ali Mahmoud, adding that the Kuwaiti M. A. Kharafi & Sons Company did not lose the case in its entirety, but rather lost to acquire assets belonging to the Libyan Investment Authority only.”
According to Al-Sanussi, will the M. A. Kharafi & Sons Company continue to pursue any penny outside Libya in order to list its money, wondering about the efforts made by the Authority to protect its assets?
The Middle East Monitor website stated that Libyan gas exports are under pressure due to the high domestic demand for gas and stagnant production, but this depends on political stability.
The website added that the future of Libya as a source of gas and the extent of its ability to meet local needs is highly uncertain, as political instability continues to obscure future prospects for future projects, whether in the energy sector, which consumes large quantities of gas in the country.
The site indicated that, theoretically, the production of gas sales should grow, allowing the country to meet the growing domestic demand and continue to export gas to Italy through the Green Stream pipeline.
