Our source obtained a Central Bank of Libya correspondence instructing banks to cover citizens’ cash allocations for personal purposes, totaling $800 million, and requesting coordination with the Issuance Department to receive the required cash dollars to fulfill these allocations.
The Central Bank added that the remaining balance in commercial banks’ vaults amounts to $126 million, while it will cover the remaining $674 million according to the attached schedule.
It further explained that banks are required to contact the Issuance Department at the beginning of the first working day after the Eid al-Adha holiday to receive foreign currency cash, replenish vaults, and execute citizens’ requests. Banks were also instructed to prepare a distribution plan across all branches.
The Central Bank confirmed that it is targeting a total distribution of $1 billion during June.
