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Exclusive: Central Bank Addresses Several Oil Companies, the Bakeries Syndicate, and the Municipal Guard on the Use of Electronic Payment Methods

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The Central Bank of Libya has revealed its correspondence sent to general managers of several oil companies — including Libya Oil Joint Venture, Golden Palm for Oil Services, International Trust for Oil Services, and Alrahila Company — instructing all stations to use electronic payment methods instead of cash transactions.

The Bank emphasized the importance of this measure, noting the benefits it brings to the national economy and to citizens through the use of electronic payment systems.

The Central Bank also issued multiple circulars on developing electronic payment channels, including one to Tadawul Company regarding the launch of instant payment via point-of-sale devices using QR codes; as well as to the General Syndicate of Bakeries and Mills, and the Municipal Guard, requiring bakeries to comply and conducting inspection campaigns to ensure that shops adhere to instant payment methods.In addition, the Bank instructed commercial banks to launch instant payment services using QR technology.

The Central Bank further requested its affiliated departments to submit weekly statistics on lypay and onpay services.

Central Bank Statement: 94 Billion Dinars in Distributed Liquidity and 61.2 Billion in Salaries Amid Heavy Spending by Ministries and Councils

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The Central Bank of Libya announced on Thursday that total revenues from January to November of the current year reached 115.3 billion dinars, compared to expenditures of 107.5 billion, resulting in a surplus of 7.9 billion dinars. Meanwhile, the foreign-currency deficit amounted to 7.8 billion dollars, which was covered through returns from the Central Bank’s investments, deposits, bond portfolios, and gold. Foreign assets also recorded gains of 2.2 billion dollars, bringing total assets to 99.4 billion dollars.

The statement clarified that revenues from the fee imposed on foreign-currency sales amounted to 21.4 billion dinars. The Bank distributed liquidity worth 94 billion dinars from the beginning of 2025 until the end of November. Salaries reached 61.2 billion dinars, operating expenses 5.8 billion, development spending 7.2 billion, and subsidies 33.3 billion dinars.

The Central Bank added that total uses of foreign-currency sales reached 28.5 billion dollars, including letters of credit worth 14.1 billion, personal transfers of 7.5 billion, wire transfers of 696 million dollars, and small-trader card payments of 120 million. It revealed that 317.6 million dollars were spent on salaries of employees abroad, 120.8 million on allowances for students studying overseas, 93.3 million on overseas medical treatment, 584.6 million for the National Oil Corporation, 2.6 billion for fuel, 253.2 million for medical supplies, 683.3 million for electricity, and more than one billion dollars in transfers for other entities.

Regarding expenditures for the country’s four main political bodies—the Government of National Unity, the Presidential Council, the House of Representatives, and the High Council of State—the statement indicated that total spending reached 5.7 billion dinars. Spending by the Government of National Unity’s Cabinet alone amounted to 218.9 million dinars, the House of Representatives spent 74.7 million, the Presidential Council 48.6 million, and the High Council of State 44.4 million dinars.

The Central Bank’s statement also disclosed expenditures for ministries under the Government of National Unity:

  • The Ministry of Finance: 25.4 billion dinars
  • Ministry of Interior: 5.9 billion dinars
  • Ministry of Defense: 3.8 billion dinars
  • Ministry of Local Governance: 2.7 billion dinars
  • Ministry of Social Affairs: 14.9 billion dinars

Exclusive: Central Bank: “Cash will be available starting Sunday, December 14, due to concerns it may leak through channels not designated for customers”

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The Central Bank of Libya confirmed exclusively to our source that cash will be available in all branches of commercial banks starting from December 14.

It added that today it completed the transfer of November salaries to their recipients through the instant salary system, and that salaries for the remaining sectors will be transferred through the portfolios mechanism during the coming week.

According to the Central Bank, cash will be available starting the following Sunday due to concerns that it may leak through channels not designated for customers who receive their salaries monthly. The Libyan banking sector encourages all citizens to use electronic payment tools and methods, as they are considered the best and most sustainable solution, supporting digital transformation towards a fully integrated digital economy.

Exclusive.. Central Bank to Sada: The remaining value of merchant and personal-use cards will be settled at 400 million dollars

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The Central Bank of Libya revealed exclusively to our source that after injecting $1.5 billion for letters of credit today, it will settle the remaining value of merchant and personal-use cards amounting to $400 million.

The Central Bank had stated to Sada yesterday evening that more than $1.5 billion was sold to banks to cover letters of credit on Monday and Tuesday, confirming that coverage will continue and that all systems are operating normally.

The Central Bank also confirmed that what is happening in the market is speculation aimed at pressuring for the cancellation of the review procedures for letters of credit—procedures that affected currency smugglers and fraudulent credits.

Exclusive: Al-Sanusi: “If the Central Bank Continues Its Irrational Policies, We Will See New Record Highs for the Dollar… The Governor Must Act and Adjust the Exchange Rate”

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Economic expert Mohamed Al-Sanusi told our source in an exclusive statement that the rise of the dollar in the parallel market is expected — and that we may witness new, unprecedented levels if the Central Bank continues its irrational policies and continues “selling illusions to the public.”

He added: “We all remember how the Central Bank misled people into believing the dollar would drop below 7 dinars after withdrawing the 50- and 20-dinar banknotes.”

He continued: “It is very clear that the Central Bank allocates a monthly quota of foreign currency to sell in the form of letters of credit and personal transfers. For this reason, at the start of every month it approves LCs and personal purposes, then stops halfway through the month and waits for the next month to approve requests again.”

He added: “The Central Bank is repeating the same mistakes of the previous governor, who spent more than five years watching the gap between the official rate and the black-market rate widen without taking action — until it was far too late.”

According to Al-Sanusi: The Central Bank must take urgent steps before year-end. First, it must provide sufficient cash liquidity to banks to replace the liquidity withdrawn through the removal of the 50-, 20-, and 5-dinar notes. Second, if no budget is approved for next year with spending lower than expected revenue, then the Central Bank will have no option but to cancel the tax and adjust the exchange rate to the level that allows it to meet demand for foreign currency and eliminate the black-market gap.

He added: “If the Central Bank continues watching the gap grow between the official and black-market rates, moving extremely slowly, and believing that divided political actors will suddenly agree and corruption will decrease and all revenues will be transferred — the Bank will soon be unable to meet demand. If the solution now is a 20% devaluation of the dinar, then delaying action will turn that into a 50% devaluation — and with every delay the cost will be greater.”

He concluded: “For more than a year, the Governor has tried his best to maintain the value of the dinar and give time for divided actors to end the split, unify spending, and transfer all revenues to the Central Bank. But I believe this is enough — he must now act and adjust the exchange rate to protect reserves, which belong to the current and future generations. Draining them will leave us at the mercy of international institutions.”

Central Bank of Libya

Central Bank to Sada: Over $1.5 Billion Sold to Banks for LC Coverage; Market Speculation Aims to Pressure Removal of Audit Measures

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The Central Bank of Libya told our source exclusively that more than $1.5 billion was sold to banks on Monday and Tuesday to cover letters of credit, with coverage continuing and all systems operating normally.

The Bank confirmed that what is happening in the market is pure speculation intended to pressure authorities into canceling audit procedures on letters of credit—procedures that have harmed currency smugglers and fake credit applicants.

Exclusive: Al-Wahesh: “Central Bank Measures, Tightened Audits, and Lack of Fiscal Discipline Push the Dollar to 8 Dinars”

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Economic expert Saber Al-Wahesh told our source in an exclusive statement that the US dollar reaching 8 dinars occurred despite the Central Bank of Libya beginning to settle letters of credit and personal-use allowances. He attributed this rise to a combination of overlapping factors.

Al-Wahesh explained that the Central Bank’s recent measures—particularly its stricter auditing of letters of credit, including reviewing commodity prices and quantities—have reduced the inflow of foreign currency into the market, resulting in a clear decline in supply.

He added that the political division and the lack of clarity in fiscal policy have created uncertainty among market participants, pushing traders and citizens to hedge by holding on to dollars as a store of value, which has increased the demand for foreign currency.

Al-Wahesh pointed out that the expansion of government spending outside traditional financial channels has also contributed to rising pressure on the exchange rate, amid the absence of clear fiscal controls.

He also noted that the large volume of liquidity accumulated in bank accounts—seeking entry into the market—has raised demand for foreign currency, particularly through transactions conducted via bank checks.

Al-Wahesh concluded by stressing that these combined factors have created a wide gap between supply and demand, making the impact of Central Bank measures slow compared to the magnitude of real pressures, and thereby allowing the dollar to continue rising despite the start of settling letters of credit.

Economic expert Mohammed Al-Barghouti

Exclusive: Al-Barghouti: “Central Bank’s FX Injection Is Not Enough… The Dollar Continues to Rise for These Three Reasons”

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Economic expert Mohammed Al-Barghouti confirmed in an exclusive statement to our source that the continued rise in the dollar’s exchange rate comes despite the Central Bank of Libya injecting large amounts of foreign currency through letters of credit and personal-use cards, explaining that market demand remains high and significantly exceeds the available supply.

Al-Barghouti clarified that the reasons behind this rise are multiple, but the most prominent are centered around three main factors. The first is the delay in executing letters of credit and bank cards, as the waiting period for many pending operations has exceeded more than a month without implementation. He pointed out that this delay is linked to oil revenues not being deposited into the Central Bank’s accounts on time, in addition to the auditing and review procedures carried out by K2 on foreign currency movements internally and externally, which has slowed down the execution cycle.

He also noted that seasonal demand in preparation for the months of Ramadan and Eid has contributed to a surge in foreign-currency demand, as traders intensified import operations to cover market needs during this period. This created additional pressure, while the amounts injected by the Central Bank were not sufficient to balance this increase in demand.

Al-Barghouti added that the widening gap between the official exchange rate and the parallel-market rate has encouraged speculation and rapid conversion from the dinar to the dollar in pursuit of profit. This made foreign-currency injections through official channels insufficient on their own to curb the market as long as speculation remains profitable.

The economic expert concluded by emphasizing that these three factors—the delay in execution, the high seasonal demand, and the price gap—constitute the main drivers behind the continued rise in the exchange rate. He stressed that without simultaneous solutions to these underlying causes, the dollar will continue trending upward regardless of how much foreign currency the Central Bank injects.

Central Bank of Libya

Exclusive: Some Traders Tell Sada They Received Messages from Central Bank Approving Personal Purposes and Letters of Credit

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Several traders confirmed to our source that they received messages from the Central Bank of Libya approving their requests for personal purposes and letters of credit.

This confirms the earlier report by the newspaper on the Central Bank’s commencement of settling letters of credit and personal purposes, as well as selling currency to banks.

Central Bank of Libya

Exclusive: Central Bank Begins Settling Letters of Credit and Personal Purposes, Selling Currency to Banks, and Granting New Approvals

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The Central Bank of Libya exclusively told our source that it has begun settling letters of credit and personal purposes, selling currency to banks, and granting new approvals as announced in the past period.

The Central Bank had previously informed our source about the Board of Directors’ decision to inject more than $2 billion to cover existing letters of credit and banks’ personal purposes, starting next Monday, the beginning of December.

This is to complete settlements before the end of the year and to provide goods for the first quarter of the next year before the arrival of Ramadan.

Nasiya Writes: The Liquidity Crisis… A Suffocating Citizen and A Staggering Economy

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Dr. Abdussalam Abdullah Nasiya wrote:

Since the withdrawal of the new 20- and 5-dinar banknote denominations, Libya has been experiencing a new wave of financial suffocation. Scenes of long queues in front of banks and ATMs have resurfaced, amid the absence of any guarantee of obtaining cash. At the same time, as the exchange rate continues to rise in the parallel market without clear restraints, citizens’ purchasing power erodes day after day, deepening the living crisis in an unprecedented manner.

With unchecked consumer spending and the accumulation of burdens caused by poor economic policies, the citizen finds himself the weakest link in the chain of financial decisions, while the responsible authorities evade their duties. Concerns are growing that the country may be heading toward another increase in the exchange rate, in light of expanding public spending and the continuation of unregulated import policies.

Although the Central Bank of Libya is one of the key sovereign institutions entrusted with managing public funds, safeguarding monetary stability, and ensuring the soundness of the banking system, these responsibilities appear threatened amid ongoing political conflicts. The Bank—meant to operate independently of political polarization—has, on many occasions, become part of the tense political scene, weakening its ability to make professional decisions free from narrow calculations.

The administration of the Central Bank needs leadership with scientific competence and technical expertise, working under a cohesive vision that does not subject monetary decisions to considerations of loyalty or power balances. Without sound leadership, the most vital financial institution in the country will remain hostage to division, exposing the national economy to further fragility.

The Libyan economy does not lack solutions as much as it lacks political will and good governance. The possible reforms—whether in rationalizing spending, unifying monetary policy, or correcting distortions in the exchange market—are implementable but require courageous decisions and transparent management. Conversely, continuing the current approach will leave citizens directly facing the consequences of division and paying the price for any financial or monetary instability.

In conclusion, leading the Central Bank at this critical moment is not a position for maneuvering or distributing influence; it is a true test of patriotism and competence. The choices are clear: either an administration capable of protecting the fragile trust in financial institutions, or a continuation of the gradual collapse that worsens citizens’ daily suffering.

Exclusive: Husni Bey Details the Three Strategic Options for Libya Amid a $32 Billion Funding Gap

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The Libyan businessman Husni Bey told our source that every economic equation requires clear and responsible decisions. He pointed out that the Central Bank of Libya is obliged to sell a specific amount of dollars at a certain price in order to meet the financial obligations needed to cover the government(s)’ public expenditures, as 93% of public spending is paid in Libyan dinars through selling oil dollars.

This includes salaries, operational expenses, development, and the remaining budget chapters.He explained that the fuel item alone consumes 12 billion dollars—or 33% of Libya’s total production of oil and gas—which is equivalent to 77 billion dinars. Meanwhile, the Central Bank must cover the remaining public spending, valued at more than 135 billion dinars, by selling oil dollars to obtain the required amount of local currency (the Libyan dinar).

Husni Bey added that the dollar has effectively become a commodity sold and exchanged in return for purchasing another “commodity”—the Libyan dinar—in order to obtain the dinars needed to cover public expenditure items, mainly:

Chapter 1 (Salaries): 70 billion dinars

Chapter 2 (Operational expenditures): 14 billion dinars

Chapter 3 (Development): More than 35 billion dinars

Chapter 4 (Child, women, and girls allowances; medical supply; water; health; environment): 18 billion dinars

He questioned, with astonishment, the voices opposing the sale of 20 billion dollars annually to cover 135–137 billion dinars of public spending—while at the same time rejecting the depreciation of the dinar and raising their voices when resorting to foreign currency reserves. He stressed that the figures and the equation are clear, and that the Central Bank is obliged and compelled to sell no less than 20 billion dollars annually to ensure the state meets its basic obligations at an exchange rate of 6.250 LYD per dollar.

Therefore, the shortfall in oil revenues needed to cover 32 billion dollars—12 billion for fuel and 20 billion for the remaining four chapters—places the Central Bank, the government, and the public before three options:

1. Reduce spending and replace subsidies with cash transfers to ensure fair distribution, rationalize consumption, curb smuggling, and stop theft.

2. Lower the exchange rate, accepting inflation, the collapse of the dinar’s purchasing power, and increased poverty.

3. Resort to and spend from the reserves, leading to lower reserves—and stop the shouting.

Al-Barghouthi Writes: The Central Bank and the Postponement of the Collapse of the Libyan Dinar… A Late Early Warning

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Professor of Political Economy Mohamed Al-Barghouthi wrote an article in which he stated:

Despite all the efforts of the Central Bank of Libya to control the monetary situation, the economic reality remains more fragile than ever before.What is happening today can only be described as a temporary postponement of a potential collapse, not real stability based on economic or financial strength.

Since the beginning of 2024, public spending has increased outside the framework of a unified budget, and governments have continued to adopt an unrestricted spending policy. With the absence of fiscal discipline, pressure has clearly begun to appear on the exchange rate, on reserves, and on the Central Bank’s ability to defend the dinar.The International Monetary Fund warned in its latest report that Libya faces a twin deficit in public finances and the current account, and that continuing high spending without a political agreement will place the currency under increasing pressure.

Although reserves appear to be at a comfortable level, the pace at which they are being depleted is concerning, as the Central Bank has become the sole entity bearing the cost of protecting the exchange rate.Raising the mandatory reserve ratio to 30%, increasing the liquidity ratio to 35%, and issuing investment certificates are all measures that provide extra time, but they do not address the root cause of the problem. A currency does not collapse due to a lack of monetary tools, but due to a persistent gap between public spending and the real economy’s ability to generate foreign currency. This gap is widening, and the parallel market is the silent indicator. The wider the gap between it and the official rate, the higher the cost of defending the dinar, and the less effective the Central Bank’s intervention becomes. With declining fiscal discipline, even a small drop in oil prices is enough to push the dinar rapidly toward a breaking point.

The reality that must be confronted is that the Central Bank is succeeding in delaying the collapse, but it cannot prevent it alone. If spending continues to exceed the state’s real capacity, if institutional division persists, and if the deficit continues to be financed without reforms, the dinar will enter a phase where no monetary policy can save it.

This warning is not a call for panic, but a call to understand that we are approaching the edge — and that crisis management requires financial and institutional consensus before it is too late.

Exclusive: Central Bank Reveals to Sada the Arrival of Cash Shipments to Libya Starting Today, in Preparation for Distribution from December Until Ramadan 2026

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The Central Bank of Libya stated exclusively to our source that shipments of cash began arriving in Libya today and will be delivered to the Issuance Department at the Central Bank.

These shipments will continue to arrive in the coming period in preparation for distributing cash to branches of commercial banks starting from next December and continuing until Ramadan 2026.

This measure comes to meet the needs of all customers and citizens across all regions of Libya.