Our source obtained exclusively the correspondence of the Chairman of the Board of Directors of the National Oil Corporation to the Minister of Finance of the Government of National Unity regarding the Oil Facilities Guard, as the facility guards are affiliated with the Ministry of Defense in military terms, and with the National Oil Corporation in an administrative and financial terms.
Sanalla said: “What applies to workers in the oil sector applies to facilities guards in accordance with the decision to adopt the guard’s salary scale, with the statement that the institution has committed to paying the financial dues.”
Wahda Bank revealed exclusively to our source that the value of cash withdrawals for its customers was raised to 3,500 dinars on the occasion of the blessed Eid Al-Adha.
The bank confirmed the availability of cash in all its branches and operating agencies.
In an exclusive statement to our source, Brega Petroleum Marketing Company, reassures all citizens of the availability of fuel and congratulates them on the approaching Eid Al-Adha.
It added that all stations are following up and managing the inspection on the ground reassures citizens and confirms that the increase is 30% above normal rates, fuel is available, and that functional operations are proceeding at a normal pace.
Bank ABC which is chaired by H.E. Mr. Seddiq Omar Al-Kabeer, is pleased to announce that Bank ABC has won two major titles at the MENA Banking Excellence Awards 2022, organized by MEED (Middle East Economic Digest). The Bank was awarded “Best Digital Banking Initiative” in recognition of its ambitious Group Digital Transformation Programme, and Bank ABC Islamic was named “MENA Islamic Finance Bank of the Year” for its outstanding performance and notable regional expansion.
Commenting on the awards, the Deputy Group CEO, Sael Al Waary said: “This remarkable recognition attests to our commitment to delivering exceptional conventional and Islamic banking products and services that continually address clients’ needs and preferences, through our digital transformation journey and MENA market penetration.”
“I am delighted to see our strategic agenda aimed at building the ‘bank of the future’ and developing a distinguished Shari’a compliant offering acknowledged by leading banking and finance industry experts. I thank the entire Bank ABC team for their tireless efforts towards enabling our vision and attaining this recognition.”
Digitization is at the heart of our Wholesale Banking strategy. Our enhanced digital capabilities have enabled us to deliver a state-of-the-art seamless experience, focused on offering client-centric Wholesale Banking and Consumer Banking products and solutions.
In response to increasing market demand, Bank ABC Islamic launched the first Islamic Finance window, “Al-Buraq”, in Algeria for corporate and retail client segments in 2021. The highly successful launch delivered encouraging customer acquisition statistics for the first year.
Established in 1957, MEED is one of the world’s leading sources of Middle East business information, news, intelligence, analysis and activities. Its MENA Bank Excellence Awards programme celebrates the best-in-class banking and financial services institutions for their innovative offering and commitment to customer excellence.
The head of the Beltress Movement, Omar Al-Taraban, confirmed to our source that the demonstrations will take place tomorrow, starting from the courtyard of the Grand hotel, where the gathering begins at 3:00 pm.
The youth are determined to set up sit-in tents in Martyrs Square, waiting for security licenses in particular. He also affirmed that the demonstrations are completely peaceful, stressing the rejection of all methods of sabotage, intrusion and burning of public property.
An official source in the Government of National Unity revealed that the recently appointed Director General of the General Electricity Company, Mohamed Ben Ismail, is still exercising his duties until now in this capacity.
At a previous time, the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, issued a decision to allow the Board of Directors of the General Electricity Company continue performing its duties until the holding of the company’s general assembly, while continuing the administrative investigation according to the latest government decisions.
Our source confirmed that Al-Washka coastal road linking Sirte and Misrata was closed by the Third Force.
The source also added that the closure of the road was due to the demands of some battalions to pay compensation for the Al-Bunyan Al-Marsous War and Al-Burkan War.
The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, held a meeting with the Governor of the Bank of England, Andrew Bailey, the Governor of the Bank of England, at his office in the British capital, London, yesterday, Friday, to discuss the plan of the Central Bank of Libya to achieve the highest levels of disclosure and transparency, the developments of the project to unify the Central Bank of Libya, and ways and areas of cooperation between the two central banks. .
The Governor of the Bank of England also praised the effective role played by the Central Bank of Libya and its Governor in maintaining the financial sustainability of the country amidst the difficult circumstances the country is going through.
This comes in light of the international community’s support for efforts aimed at unifying the Central Bank and achieving this entitlement.
The professor of economics at the Libyan Academy, Omar Zarmouh, said in a statement to Al-Wasat channel, which was monitored by our source: “When we find that there is a threat to stop the transfer of oil revenues from the Corporation to the Central Bank, it becomes not clear whether the numbers have been transferred in full or only part of them have been transferred.”
He continued by saying that the Corporation obtained 34 billion in allocations and they said that they are financial arrangements. But what was spent out of the 34 billion was only 4 billion. He added that the Corporation does not retain revenues and is not legally entitled to.
He added: “The corporation pays for the value of fuel directly from oil sales, and this is a big mistake. It is not permissible. However, the oil revenues must be supplied in full to the Central Bank and then be spent from what is allocated to it in general.”
The liquidity team of the Central Bank of Libya revealed exclusively to our source the fifth liquidity shipment worth 185 million dinars to Benina Airport in Benghazi, allocated to the branches of the National Commercial Bank, as part of the continuation of the Central Bank of Libya, Tripoli, in the transfer of planned shipments to provide the branches of banks in the eastern region with their liquidity needs, and that within the framework of the liquidity plan agreed upon with the commercial banks to transfer of 700 million dinars, of which 425 million dinars were delivered.
The Central Bank’s liquidity team confirms that the airlift to provide banks with liquidity will continue until the banks are fully satisfied. The team is working to transfer additional shipments to the regions of southern Libya to support the balances of the branches in anticipation of any shortage of liquidity that may occur during the days leading up to Eid Al-Adha and the banks’ readiness to disburse the children’s allowance and salaries in cash.
The Libyan-Tunisian exhibition for medical tourism has been launched today, Thursday, in the Tunisian capital, during the period from June 30 to July 2, 2022, in the presence of about 60 Libyan and Tunisian companies and clinics.
Wahda Bank announced exclusively to our source that the children allowances appendix had been received, which was referred today by the Ministry of Social Affairs of the National Unity Government.
Our sources learned exclusively that the Audit Bureau had suspended all financial transfers carried out by the Libyan Post, Telecommunication & IT Holding Company headed by Mohammed Ben Ayed.
According to the sources, the Audit Bureau suspended 100 million that would have been transferred to the Economic and Social Development Fund, in addition to 50 million that would have been transferred to the Libyan Public Private Partnership Company, headed by Abdul-Majid Mligta, on the instructions of the Prime Minister of the National Unity Government, Abdul-Hamid Dbeibeh.
According to the sources, the Audit Bureau is currently working on verifying the legality of the exchange after stopping the transfer of the aforementioned 150 million.
The Ambassador of the United States of America to Libya, Richard Norland, answered our source’s question exclusively about the management of oil revenues. He said: “As for the beneficiary’s initiative, there is communication with everyone, whether the Government of National Unity, parliament, the National Oil Corporation and the relevant authorities. We are still looking for several ideas.”
He added: “We got some positive reactions from them. What matters to us is that they understand the importance of this initiative at the present time. Its importance lies in its widest possible participation.” He stressed the importance of everyone’s participation and contribution in this initiative. “We did not only talk with the National Unity government. We presented a brief summary and explanation to the officials in Bashagha government, and we look forward to everyone looking forward to this initiative as soon as possible.”
Our source obtained exclusively the correspondence of the Central Bank of Libya, during which it urges banks to quickly communicate with the issuance departments to receive their liquidity needs.
The Central Bank confirms its readiness to transport large shipments in all regions of Libya, according to the needs of banks.
