As part of its efforts to accelerate the provision of foreign currency and meet the growing demand for the dollar, the Central Bank of Libya has issued new directives to commercial banks, extending working hours for dollar cash exchange operations for citizens.
An exclusive copy of the Central Bank of Libya’s decision addressed to banks was obtained, which called for extending working hours to speed up the procedures for withdrawing dollar cash allocations and ensure the smooth flow of sales through banking channels.
The Central Bank of Libya confirmed in a statement that it decided to extend bank working hours starting today, Sunday, to increase the pace of dollar cash sales, explaining that the plan aims to reach a daily sales rate of $100 million.
The bank indicated that it will work next week to increase banks’ foreign currency allocations, in order to address pending bookings worth one billion dollars, as part of measures aimed at reducing waiting lists and meeting customer demands.
In a related context, the Central Bank of Libya directed commercial banks to expedite the completion of documentary credit procedures and work to cover requests submitted through the electronic system, allocating one billion dollars as an initial payment to finance these credits.