Exclusive: Central Bank Orders Banks to Halt Re-Circulation of Currency Notes Scheduled for Withdrawal, While Facilitating Their Deposit by Citizens

Our source obtained a copy of the Central Bank of Libya’s circular to banks, instructing them to comply with Board of Directors’ decisions (reference numbers 25-26-27) issued on 16/6/2025, regarding the withdrawal of the first and second issues of the 20 dinar banknotes, the sixth, seventh, and revised seventh issues of the 5 dinar banknotes, and the sixth, seventh, and first issues of the 1 dinar banknotes, respectively, from circulation. The circular also ordered banks to take all necessary measures to facilitate and accept deposits of the withdrawn currency from the mentioned denominations, while stressing the prohibition of re-circulating or re-issuing these withdrawn notes.

The Central Bank clarified that this applies both through bank tellers and ATM machines, emphasizing that its Banking and Currency Supervision Department will carry out inspection visits to monitor the extent of banks’ compliance with these instructions. It warned that the strictest penalties will be applied to non-compliant banks in accordance with the law and applicable regulations.