Tripoli – The distribution of cash liquidity to commercial banks will continue in the coming months with support from the Central Bank of Libya, as cash shipments have arrived at the bank’s vaults via an air bridge.
It was clarified that the Central Bank will inject ten billion dinars of the new currency during January and February, to be fully distributed before the arrival of the month of Ramadan and Eid al-Fitr across various regions of the country. This is expected to help meet citizens’ needs and alleviate pressure on banks.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant part of the Roman Empire, known as Oea, and its historic core, the Medina, contains architecture reflecting centuries of Arab, Ottoman, and Italian colonial influence.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 following the country’s independence. It has played a critical role in managing the nation’s finances and currency, though its operations have been significantly disrupted and divided between rival administrations since the 2011 civil war.
Ramadan
Ramadan is the ninth month of the Islamic lunar calendar, observed by Muslims worldwide as a period of fasting, prayer, reflection, and community. Its history is rooted in the Islamic belief that during this month, the Quran was first revealed to the Prophet Muhammad. The fast from dawn to sunset commemorates this revelation and is one of the Five Pillars of Islam.
Eid al-Fitr
Eid al-Fitr is a major Islamic holiday marking the end of Ramadan, the holy month of fasting. It is a day of celebration, communal prayers, and feasting, with its origins tracing back to the Prophet Muhammad in the 7th century.
