The Central Bank of Libya confirmed that the network of exchange companies is operating in an organized manner and in harmony with commercial banks, noting the launch of the process for granting documentary credits through these banks. The bank clarified that the total value of credits approved so far has reached approximately 700 million US dollars.
This announcement comes as part of the bank’s efforts to enhance financial stability and facilitate trade movement by regulating the work of exchange companies and ensuring full coordination with commercial banks. This contributes to supporting the national economy and providing the necessary liquidity for the banking sector.
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, with parallel institutions emerging in the east and west during the period of conflict following the 2011 uprising.
