Our source has exclusively obtained a letter from the Director of the Banking and Currency Supervision Department at the Central Bank of Libya addressed to companies and currency exchange offices licensed by the bank.
The Central Bank issued instructions permitting these licensed companies and exchange offices to sell foreign currency with a 7% profit margin over the Central Bank’s official selling rate to commercial banks operating in Libya.
The exchange companies and offices will be subject to ongoing and regular monitoring, including field inspection visits, to assess their compliance with the Central Bank’s instructions. The Central Bank affirmed it will take legal action and enforce penalties as stipulated in Law No. (1) of 2005, which may include revoking the license of any company or office found violating these regulations.
