Al-Iqtisadiya newspaper has exclusively obtained the decision of the Central Bank of Libya, which addresses banks to increase working hours to withdraw their dollar cash allocations.
The Central Bank also told Al-Iqtisadiya that it has extended bank working hours to enable them to sell cash dollars faster, with a target of $100 million daily, starting from Sunday, and to increase bank allocations next week to settle pending reservations worth $1 billion.
The Central Bank also directed to speed up credit procedures, cover demand through the system, and allocate $1 billion as an initial installment.
Central Bank of Libya
The Central Bank of Libya is the central bank of the State of Libya, established in 1956 after the country’s independence, with its main headquarters in Tripoli. It plays a pivotal role in managing monetary policy, issuing the Libyan currency (the dinar), and overseeing the banking system. Its history has witnessed major challenges due to the political division in Libya after 2011, resulting in competing branches in the east and west.
Libya
Libya is a country located in North Africa, known for its ancient history dating back to antiquity, where it was home to the Phoenician and Roman civilizations. Among its most prominent cultural sites is the archaeological city of Leptis Magna, a UNESCO World Heritage site. Libya is also distinguished by its rich desert heritage and diverse Bedouin culture.