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Exclusive: National Commercial Bank Raises Withdrawal Limit and Transfers 140 Million to Commercial Banks on Orders from its General Manager

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Our source at the National Commercial Bank revealed: “When leadership is under wise and youthful management, the results are more progress, more success, and ever-evolving capabilities.”

The source stated that, under the directives of the General Manager of the National Commercial Bank, Ali Al-Khuwailidi, branches and agencies of the bank have been instructed to increase the cash withdrawal limit via teller checks or ATMs to 3,000 dinars. Additionally, the General Manager issued instructions to the Issuance Department and the Green Mountain Region Branch Administration to send cash liquidity to partner banks, including Jumhouria, Sahara, and North Africa Banks, among others. A total of over 140 million dinars has been transferred, including cash shipments to partner banks in southern Libya via aircraft from Al Abraq International Airport.

The source expressed gratitude and appreciation to the General Manager, Ali Al-Khuwailidi, the Issuance Department in Green Mountain, and the Green Mountain Region Branch Administration for their efforts in ensuring cash availability and smooth transfers.

Al-Hassi to Our Source: “The National Commercial Bank’s Budget Exceeds 500 Million Dinars in Profits for 2024”

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The Chairman of the Board of Directors of the National Commercial Bank, Khaled Al-Hassi, stated in a comment to our source, on the occasion of the bank’s 70th anniversary, that nearly 7 billion dinars have been settled, and provisions have risen to approximately 1.3 billion dinars to address any potential issues. This instills confidence in external correspondents when dealing with the commercial bank in foreign transactions.

Al-Hassi added that the bank’s budget is expected to exceed 500 million dinars in profits during 2024, for the first time since its establishment. This comes after avoiding the anticipated tax expenses. He further clarified that most branches in the southern region have been renovated, and some young university graduates have been hired to enhance the workforce.

Al-Hassi emphasized that the bank has settled the situation for its employees, added more than 300 ATM machines, and now has machines for both Libyan dinars and foreign currencies. He added that the bank is working on including some banks, oil companies, and insurance companies to obtain certificates in banking operations in various economic fields, including risk management, Islamic banking, and others.

Concluding his statement to our source, Al-Hassi said: “I believe that today, especially in this month, we are the only bank in Libya paying the equivalent of 2,000 dinars, unlike other banks. Moreover, all machines are functioning efficiently with financial provisions and operate 24 hours a day.”

Al-Hassi to Our Source: “The National Commercial Bank Aims to Establish or Contribute to a Digital Bank”

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The Chairman of the Board of Directors of the National Commercial Bank, Khaled Al-Hassi, stated to our source that the bank aims, if approved by the Central Bank of Libya in the coming days, to establish or contribute to a digital bank. He also mentioned that the bank seeks to correct the status of the leasing company and launch it soon to become one of the supporting arms of the bank’s activities, which, until now, are solely owned by the commercial bank.

Al-Hassi explained that through commercial banks, there is an attempt to support various strategic projects within the city of Benghazi to stimulate the economy, emphasizing in a message to legislative authorities, governments, and institutions that a good economy cannot exist without a strong banking sector.

Al-Hassi concluded his statement by saying that the bank is responsible for ensuring the secure transfer of currency, with the current security stability no longer being a concern.