The Central Bank of Libya exclusively revealed to our source that the personal purposes system has officially gone live as of today, with an excellent situation involving exchange companies. Reservations for personal purposes have begun in earnest, with more than $14 million already reserved. Exchange companies offered competitive rates not exceeding 7.5 dinars per dollar, with immediate processing.
The Central Bank stated that it will clarify certain points regarding the mechanism between exchange companies and banks tomorrow, in order to enable direct card loading between exchange companies and banks.
The Central Bank added that the first day confirms the success of the mechanism and the system. “Today we can say that we have exchange companies that have effectively launched operations and are licensed. Praise be to God, we may need a few days to get accustomed to this system, and it will strengthen cash sales, which will be coming soon.”
The Central Bank further confirmed to Sada that citizens can now buy dollars via transfers at a cheaper rate than cash, putting an end to speculation through checks and transfers. Additional procedures will be introduced to facilitate operations, with the initial goal being the launch of the service and the start of a long-awaited project that has been anticipated for decades.
