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The unified salary schedule is the focus of the meeting of the Minister of Finance with the Chairman of the Finance Committee in the House of Representatives

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The Minister of Finance in the Government of National Unity, Khaled Al-Mabrouk, met with the Chairman of the Finance Committee in the House of Representatives, Omar Tantoush.

The meeting discussed the unified salary schedule for entities funded by the public treasury, the stages of its implementation procedures, and the procedures taken with the issuance of the law by the House of Representatives.

The meeting also emphasized  publishing transparency reports and the principle of disclosure that are published monthly by the Ministry of Finance for public revenues and expenditures, as well as discussing the proposed general budget for the next year 2023 AD, as well as special salary scales for some of the entities funded by the public treasury and topics related to financial affairs.

Dbeibeh hands over the cheques of the first installment of youth loans to their beneficiaries

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The Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh handed over the cheques of the first batch of youth loans to their beneficiaries.

During the International Youth Day ceremony, some cheques for housing loans were distributed to some people from different municipalities.

Dbeibeh announces important decisions for Libyans including loans and marriage grant

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The Prime Minister of the Government of National Unity, Dbeibeh announced the start of the third billion for the Marriage Fund, and with regard to loans, he said that housing loans are divided into three. 

Land plots will be distributed to young people and a real estate certificate will be given to be disposed of.

There are two types of housing loans with no interest. The first type will be given from the Saving & Real Estate Investment Bank with the plot of land, and the second type will be given to people who have land or want to build on the family house.

He continued by saying: “The unified salary schedule has been started, and there will be a unified salary soon for all Libyan citizens.”

The Central Bank warns against messages circulating on social media pretending to register for sums of money

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The Central Bank of Libya, Tripoli, warned citizens of messages circulating on social media and various Internet sites, as they pretended to register for sums of money, with the aim of fooling citizens and hacking their devices, financial theft, data theft or electronic extortion.

The bank confirmed its keenness that citizens do not fall victim to attempts to deceive and electronic fraud, which were monitored by the bank.

The Central Bank calls on to not respond to or circulate such attempts, noting that the publications that represent it are published on its official social media pages.

The Minister of Youth in the National Unity Government forms committees on the occasion of International Youth Day

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Our source obtained exclusively the decision of the Minister of Youth in the Government of National Unity, to form committees on the occasion of the upcoming International Youth Day, in Libdeh in Al-Khums, which falls on August 12.

It also gives a financial reward to all the heads and members of the committees formed in particular.

Al-Waer: “more than seven thousand job seekers in the municipality in the absence of a mechanism to employ them”

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The Director of the Labor Office in Sirte Municipality, Issa Al-Waer, stated exclusively to our source that the number of job researchers registered in the office has reached more than 7,000 researchers from various academic disciplines, without any mechanism to employ them except in the public or private sectors.

Al-Waer added that the office suffers from some obstacles that hinder the provision of services, represented by the weak financial capabilities of the office.

Al-Waer indicated that the Sirte office is working to provide services to all employees, which is the issuance of non-work certificates, the settlement of duplication of work, the registration of residence permits for expatriate workers, and the registration of job seekers.

General Electricity Company actually begins work with the new prices

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Our source obtained a copy of the correspondence of the Director of the Department of Administrative Affairs and Services in the General Administration of Consumer Services.

It contains a circular to the letter of the Director of the Department of the Director General’s Office regarding the referral of the Cabinet’s decision setting electric energy prices to work with as of the first of August 2022.

The liquidity team of the Central Bank reveals the arrival of 16 million to Kufra

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The liquidity team of the Central Bank of Libya revealed exclusively to our source that these moments arrived at the airport of the city of Kufra, a liquidity shipment of 16 million dinars coming from Tripoli, as part of the Central Bank of Libya’s plan to provide liquidity in all branches of commercial banks and in all regions of Libya, as the liquidity team begins to provide liquidity in bank branches to pay salaries for the month of July 2022.

8 million have been allocated to the Jumhouria Bank, 5 million to the Wahda Bank, and 3 million by the North Africa Bank. The team is working to transfer other shipments to the rest of the regions.

Ukrainian Vice President of International Relations reveals to our source the fate of the first wheat trucks on their way to some countries including Libya

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Deputy Chairman of the International Relations Committee, Svyatoslav Yurash, told our source today, Tuesday, that the Ukrainian authorities had ordered the resumption of the first shipments of wheat on its way to North African countries, including Libya.

Yurash added to our source that it is not certain that these trucks will pass until now, “but we hope that the Russians will allow them to cross without any difficulties.”

Our source obtains cargo movement statistics at Al-Khums seaport

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Our source obtained statistics on the quantity of unloaded and shipped goods and the movement of delivery at Al-Khums seaport during the period from January 1 to June 30 of this year, where the number of incoming animals reached 1,782 heads, and the number of incoming cars and machinery reached 26,703.

The total number of shipped containers reached 12,655, the total number of incoming containers was 13344, the weight of the unloaded grain was 406,811 tons, the total weight of the unloaded goods was 721,730 tons, and the total weight of the shipped goods was 53085 tons.

The Ministry of Economy Information Office reveals to our source that the decision to ban potassium bromate was issued from August 2021

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The Information Office of the Ministry of Economy of the Government of National Unity revealed exclusively to our source that the decision to ban the import and use of potassium bromate has been issued since August 2021.

He continued by saying that the Ministry of Economy is a legislative and not an executive body, as the police authorities, judicial officers and members of the Municipal Guard must arrest violators of the provisions of the decision and withdraw their licenses, confiscate the material and refer them to the competent authorities to punish them in accordance with the legislation in force.

The decision of the Minister of Economy, Mohammed Al-Huwaij, also stipulates that the use of potassium bromate by the owners of bakeries, factories of sweets and pastries in all its forms and classifications in the production and manufacture of baked goods and pastries is prohibited, and mill owners are completely prohibited from adding it in the production of flour. Its marketing is strictly prohibited, as well as dealing with it in any way.

In the same context, our source obtained exclusively statements belonging to the Food and Drug Control Center proving that bakeries did not use this substance.

The Central Bank reveals spending for the Presidential Council and the National Unity government until July 2022

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The report of the Central Bank of Libya, which talks about revenue and spending until July 2022, mentioned the expenses of the Presidential Council and its affiliates, starting from the salary section, the amount of 254.922 million dinars, while the operating expenses amounted to 56,499 million dinars. This brings the total to 311.422 million dinars.

On the other hand, the expenditures of the Council of Ministers for the Government of National Unity amounted to 427,047 million dinars in the salary section, and the operating expenses amounted to 336,234 million dinars, with a total expenditure of approximately 763,280 million dinars.

A report by the Central Bank of Libya shows the total expenditures of the parliament and the supreme council of the state during 7 months from 2022

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The report of the Central Bank of Libya, which was recently included, revealed the revenue and expenditure rates of a number of government agencies until the end of last July.

The expenditures of the Supreme Council of the State, Chapter One, amounted to 7,749 million dinars, and the operating expenses amounted to 18.9 million dinars, and thus the total public expenditure of the State Council amounted to approximately 26,650 million dinars.

The House of Representatives amounted to 401,772 million dinars in the salary section, and approximately 118,530 million dinars for administrative expenses, with a total of 520,301 million dinars.

The Central Bank publishes total revenue and spending from January to July 2022

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The report of the Central Bank of Libya stated during its monthly statement on revenue and expenditure during the period from 1/1/2022 to 31/7/2022 that the total revenues amounted to 77.2 billion dinars. Revenues from oil sales amounted to 56.1 billion, oil royalties 8.2 billion, revenues from oil royalties for previous years 11.4 billion, taxes 628 million, customs 34 million, communications 146 million, revenues from selling fuels in the local market 90 million and other revenues 528 million.

The total expenditure amounted to 45.1 billion dinars, starting from 23.2 billion dinars for salaries, 3.6 billion dinars for administrative expenses, 118 million dinars within the third chapter of development, including granting students who were referred to Libyan embassies abroad, and 11.7 billion for support, and finally an exceptional budget for the institution National Oil Company worth 6.5 billion.

Bank ABC named as Best Bank for “Innovation in Digital Banking” in the Middle East by The Banker

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Bank ABC, MENA’s leading international bank, has emerged as the Middle East Winner at ‘The Banker’s Innovation in Digital Banking Awards 2022’ by the Financial Times. The award underscores the success of the Bank’s multi-year Group digital transformation programme aimed at building the ‘bank of the future,’ while fuelling innovation and digital banking transformation in the MENA region and beyond. It recognizes the Bank’s agile cloud-only innovation approach centered around customer needs and endeavors to enhance, leapfrog and disrupt legacy wholesale and retail banking models.

Commenting on this award, Bank ABC Acting Group CEO, Mr. Sael Al Waary remarked: “We are honored to be recognized as the Middle East winner in The Banker’s Innovation in Digital Banking Awards 2022. Receiving this award inspires us to continue to invest and innovate to create the bank of the future. Innovation is at the heart of our strategy, and we are committed to creating a new digital platform leveraging our digital ecosystem to deliver the best banking experience for our customers.”

“I sincerely thank The Banker for this prestigious recognition and our Board, shareholders and colleagues for their commitment to our ongoing digital transformation journey.”

On behalf of The Banker, the Deputy Editor, Liz Lumley said, “Bank ABC impressed with its comprehensive transformation of both the retail and wholesale bank to take advantage of cloud-native technologies, Artificial Intelligence (AI), data analytics and open APIs, while the goals of ABC Labs presented a clear and mature innovation strategy.”

The evaluation took into account three key examples, namely the Wholesale Bank’s accelerated digital transformation and leading-edge digital deployments that have transformed client experience, including a regional-first digital corporate onboarding service and modernized Supply Chain Finance platform; the continued customer-driven innovation at the digital mobile-only ila Bank, including 24 app releases within the last 18 months; and the role of ABC labs in spearheading digital innovation within the Group and across the industry.

Most notably, ABC Labs facilitated a flagship digital currency payment, in collaboration with the Central Bank of Bahrain and JP Morgan, and led a major Cloud transformation exercise for the Wholesale Bank, enabling it to become increasingly agile, innovative and data-driven.

The Banker’s highly coveted Innovation in Digital Banking awards are considered the benchmark for innovation excellence and recognizes the most transformative digitization initiatives in the global banking industry. In addition to evaluating leading-edge technology implementations, the organizers gauged the role of leadership, culture and collaboration in attaining success, and Bank ABC has excelled across all these dimensions.