Benghazi, January 19, 2026 – The committee formed by the House of Representatives tasked with investigating the causes of the monetary crisis, the lack of liquidity, the exchange rate, and ensuring the regular payment of state employees’ salaries held a meeting today, Monday, via video conference with the Chairman of the National Oil Corporation. The meeting was attended by the Director General of the International Marketing Department and the Director of the Financial Department at the Corporation.
The meeting discussed the financial challenges facing the country and ways of cooperation between the National Oil Corporation and the relevant authorities to ensure the stability of financial resources, provide the necessary liquidity to settle obligations related to employee salaries, in addition to examining mechanisms to support the exchange rate and follow up on the regular flow of oil revenues, which represent the primary source of the national economy.
Committee members emphasized the necessity of continuing direct coordination with the Central Bank, the National Oil Corporation, and the concerned parties to follow up on the implementation of proposed solutions and urgently address monetary and financial problems. This is to ensure the protection of salaries and the stability of the economic situation in Libya, and to provide practical recommendations to the House of Representatives to ensure their implementation as soon as possible.
Benghazi
Benghazi is a major city in eastern Libya, historically significant as a center of trade and culture since its founding as the Greek colony of Euesperides. It played a pivotal role in the 2011 Libyan Civil War as a key base for the uprising against Muammar Gaddafi.
House of Representatives
The House of Representatives is the lower chamber of the United States Congress, established by the Constitution in 1789. It is composed of representatives elected from congressional districts, with representation based on state population, and holds primary responsibility for initiating revenue bills and impeaching federal officials.
National Oil Corporation
The National Oil Corporation (NOC) is the state-owned oil company of Libya, established in 1970 to oversee the country’s petroleum resources and manage all phases of oil production. It was founded following the nationalization of the Libyan oil industry under Muammar Gaddafi’s government.
International Marketing Department
The International Marketing Department is a functional unit within a company or organization responsible for planning and executing marketing strategies across global markets. Its history is tied to the post-World War II expansion of global trade and the rise of multinational corporations, which created a need for specialized teams to manage brand presence, market research, and advertising in diverse international cultures.
Financial Department
The Financial Department is a government body responsible for managing public revenue, expenditure, and economic policy. Its history is tied to the development of modern state administration, evolving to oversee budgeting, taxation, and financial regulation.
Central Bank
The Central Bank is a nation’s primary monetary authority, responsible for managing currency, controlling interest rates, and ensuring financial stability. Historically, such institutions, like the Bank of England (founded 1694) or the U.S. Federal Reserve (established 1913), were created to standardize currency, act as a lender of last resort, and mitigate financial crises.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by centuries of Arab and Ottoman influence. In the modern era, it was an Italian colony before gaining independence in 1951, later becoming known for Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. The country is home to UNESCO World Heritage sites, such as the ancient Greek city of Cyrene and the Roman ruins of Leptis Magna.
