The Central Bank of Libya told our source exclusively:<\/p>\n\n\n\n
The Imported Goods Tracking System (ACI) project falls within a package of measures and reforms implemented by the Central Bank over recent years to combat corruption and strengthen oversight of spending and foreign trade.<\/p>\n\n\n\n
The Bank explained that these measures included the launch of the (Your Salary Instantly)<\/strong> system, contracting the international firm K2<\/strong> to review letters of credit and prevent the recurrence of empty-container schemes and fictitious letters of credit, as well as cooperating with the U.S. Treasury and the U.S. Federal Reserve to pursue smuggled funds.<\/p>\n\n\n\n The Central Bank added that it halted the oil barter system, which contributed to recovering billions of dinars for the state treasury. It also worked to bring relevant parties together to agree on a unified spending framework and to stop the expansion of public debt.<\/p>\n\n\n\n The Bank further noted that it required commercial banks to review opened letters of credit and granted financing in order to uncover methods of illicit financial cover and unlawful financing practices, in addition to importing physical U.S. dollar banknotes (cash) and establishing licensed exchange offices and currency exchange shops.<\/p>\n\n\n\n The Central Bank also confirmed that it urged the Ministry of Interior and security agencies to pursue foreign currency speculators operating through WhatsApp groups and to shut down the parallel market. Furthermore, it designed the ACI system<\/strong> to track imported goods from the country of export until their arrival in Libya.<\/p>\n","protected":false},"excerpt":{"rendered":" The Central Bank of Libya told our source exclusively: The Imported Goods Tracking System (ACI) project falls within a package of measures and reforms implemented by the Central Bank over recent years to combat corruption and strengthen oversight of spending and foreign trade. The Bank explained that these measures included the launch of the (Your […]<\/p>\n","protected":false},"author":13,"featured_media":257115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[613],"class_list":["post-257299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-libya"],"acf":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/comments?post=257299"}],"version-history":[{"count":1,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257299\/revisions"}],"predecessor-version":[{"id":257300,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/257299\/revisions\/257300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/257115"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=257299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=257299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=257299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}