• February 2, 2026
  • libyawire
  • 0

A banking and economic expert confirmed that the talk about Libya being prevented from obtaining foreign currency from the Central Bank of Libya’s accounts and deposits in international banks is completely unfounded. He described these claims as mere “fabrication and misinformation” aimed at polishing the image of the Central Bank’s current management.

He explained that these allegations are used as a pretext to justify certain systematic policies, pointing out that practical reality proves the opposite. The Central Bank of Libya has continued to provide foreign currency for official duties normally.

The expert questioned: “If the ban were truly in place, where would the foreign currency that the Central Bank grants as part of its official duties come from?” This indicates that the flow of foreign currency has not stopped, and that talk of a ban is more of a directed media narrative than an economic reality.

Libya

Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by centuries of Arab and Ottoman influence. In the modern era, it was an Italian colony before gaining independence in 1951, later becoming known for Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. The country is home to UNESCO World Heritage Sites, such as the ancient Greek city of Cyrene and the Roman ruins of Leptis Magna.

Central Bank of Libya

The Central Bank of Libya is the country’s primary monetary authority, established in 1956 to issue currency and manage monetary policy. It has played a critical and often divisive role in Libya’s recent history, notably functioning as a unified financial institution during the post-2011 civil war period despite the country’s political fragmentation.

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