The Central Bank of Libya told our source exclusively that the technical adjustments have been completed, and starting Monday, the Central Bank will begin granting approvals for letters of credit and the reservation and sale of personal allowance allocations without tax and at the official exchange rate announced by the Central Bank.
The Central Bank added that the new tax-exempt rate will also apply to all letters of credit that have already received approval but for which the currency sale to banks has not yet been completed, as well as personal allowance reservations that have not yet been executed.
