New Central Bank Statements on Personal Use System and Reservation Operations Through Exchange Companies

February 16, 2026
libyawire
Economy
0

The Central Bank of Libya confirmed in a statement that the personal purposes system has officially begun operations as of today. It indicated that the situation is excellent with the approved exchange companies, as reservation operations have actually launched and more than 14 million dollars were registered within the first few hours.

Details of the First Day

Exchange companies offered competitive prices not exceeding 7.5 dinars per US dollar.
Fund transfers were completed instantly, reflecting the system’s readiness and the smoothness of procedures.
The Central Bank announced it will issue additional clarifications tomorrow regarding the coordination mechanism between companies and banks, allowing cards to be funded directly through the new system.

Initial Success of the System

The Central Bank clarified that the first day confirms the success of the operational mechanism, stressing that licensed exchange companies have actually begun providing the service, and that the system will only need a few days for full adaptation. It confirmed that the new system will soon enhance organized cash sales, contributing to reducing the gap with the parallel market.

Benefits for Citizens

Citizens are now able to purchase dollars via transfers at a price lower than cash.
Ending speculation in checks and transfers through a transparent and direct mechanism.
The launch of the service represents the beginning of a long-awaited project for decades, aiming to facilitate citizens’ access to foreign currency in a legal and organized manner.

The Central Bank of Libya had announced the reactivation of the foreign currency reservation system through approved exchange companies, setting the exchange rate at 7.45 dinars per US dollar.

Implementation Mechanism:

Reservation is done through the dedicated electronic system of the Central Bank of Libya.
The approved company is selected directly through the system.
Payment of the amount in Libyan dinars is made on the same day as the purchase.
Reservations cannot be canceled except outside official working hours.

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 during periods of conflict since 2011, with rival administrations at times claiming control over separate branches of the institution.

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. Its cultural heritage includes UNESCO World Heritage sites such as the ancient Greek city of Cyrene and the Roman ruins of Leptis Magna.