Exclusive: Central Bank Reveals New Regulations for Opening Credits and Operating Exchange Companies with Figures

February 2, 2026
libyawire
Economy
0

The Central Bank of Libya confirmed exclusively that all necessary arrangements for the launch of the actual reform measures package are ready. The practical application of these measures will begin this week.

• The steps from the plan will include the following executive axes:

• Launch of work with new controls: Next Sunday morning, the new operational controls will be circulated to exchange companies and offices, in preparation for starting to grant them licenses to operate under the new system.

• Resumption of the personal purposes system: The processing of pending reservation requests since December 2025, with an estimated total value of about 600 million US dollars, will be resumed immediately.

According to the Central Bank, after completing this batch, companies will continue to provide personal purpose quotas for 2026 according to the approved ceilings:

· $2000 per individual (cash, transfer, or card loading),

in addition to an extra $8000 for those who wish.

· $7500 for study purposes.

· $10000 for treatment purposes.

It added: Resumption of accepting and covering documentary credit requests according to new controls that limit the smuggling and leakage of goods outside the country, and ensure the supply of the Libyan market with goods and citizens’ needs, provided that the Ministries of Economy and government agencies commit to controlling prices.

It continued by saying: The official start of exchange companies’ work: next Monday, which will witness the start of organized work by exchange companies and offices under the umbrella of the new controls, and enabling foreign workers to buy and sell under the force of law.

It continued: Inflow of foreign cash liquidity: As part of enhancing monetary stability, the first monthly batch of US dollar cash is scheduled to arrive at the Central Bank of Libya’s vaults during February 2026, with a value of 600 million dollars. The monthly arrival of similar batches will continue thereafter.

According to the Central Bank: In response to what has been circulated recently, sources revealed that the total foreign assets of the Central Bank of Libya reached a record level exceeding 100 billion US dollars during January 2026. This confirms the strength of the financial position and refutes any inaccurate claims about the random use of reserves.

Central Bank of Libya

The Central Bank of Libya is the primary monetary authority of Libya, originally established in 1956 as the National Bank of Libya. It has played a critical and often contested role in the country’s economy and governance, especially following the 2011 revolution and subsequent conflicts, where control of the bank and its assets became a major point of political division.

Libya

Libya is a North African country with a rich history rooted in ancient civilizations such as the Phoenicians and Romans, notably seen in the ruins of Leptis Magna. It gained independence from Italy in 1951 and was ruled by Muammar Gaddafi from 1969 until the 2011 revolution. The nation’s cultural heritage includes significant Greco-Roman archaeological sites and historic Islamic architecture.

Libyan market

The Libyan market, often referred to locally as a *souk*, is a traditional marketplace central to daily commerce and social life, historically organized by trade guilds. These bustling hubs, found in cities like Tripoli and Benghazi, have for centuries facilitated the trade of goods ranging from spices and textiles to handicrafts. Their structure and atmosphere reflect Libya’s long history as a crossroads of Mediterranean and trans-Saharan trade routes.