Tag Archives | Central Bank of Libya (CBL)

HoR swears in new Central Bank Governor

By John Lee. Libya’s eastern-based House of Representatives (HOR) has reportedy sworn in a new governor for its Bayda-based Central Bank of Libya (CBL). Mohamed Shukri was appointed in opposition to the Tripoli-based governor Sadiq al-Kabir, who continues to have the support of the UN-backed Government of National Accord (GNA). Following the ceremony on Monday, […]

CBL unfreezes $100m at French Bank

By John Lee. The Central Bank of Libya (CBL) has announced that a French court has ruled in its favour in a case which would see the release of a $100-million loan owed to the bank. The assets were held by Credit Agricole, and were frozen at the request of Al-Kharafi Group, which is owned […]

Libyan Technocrats Agree Principles to Protect Oil Sector

Key Libyan institutions and representatives have agreed a set of principles aimed at reinforcing existing legal protections for the National Oil Corporation (NOC). Representatives of Libya’s National Oil Corporation, the Governor of the Central Bank of Libya (CBL), tribal and municipal representatives, the United Nations, the International Monetary Fund (IMF), major international oil companies, diplomats […]

GNA appoints New LIA Board of Trustees

The newly GNA-appointed Board of Trustees for the Libyan Investment Authority (LIA) has been officially announced following its first meeting that took place in Libya’s capital on Saturday. According to a statement issued on their behalf, the Board of Trustees “is the highest governing body of the LIA which is mandated to preserve and protect Libya’s sole Sovereign […]

CBL Governor meets Head of Crisis Group

By John Lee. The Governor of the Central Bank of Libya (CBL), Saddek Omar Elkaber, has met with Jean-Marie Guéhenno, Head of the International Crisis Group (ICG) on Thursday at his office in Tripoli. They discussed the effects of the economic and financial problems facing Libya, and practical solutions to alleviate the daily suffering of […]

New Currency Shipment arrives to Mitiga

By John Lee. The Central Bank of Libya (CBL) received a new shipment of currency from the United Kingdom on Thursday morning. According to a statement from the CBL, the shipement is “estimated to be” $300 million. It said it will distribute the money to commercial banks across the country during Ramadan. (Source: Central Bank […]

Central Bank distributes $303m to Households

By John Lee. The Central Bank of Libya (CBL) has said that it has distributed more than $303 million to Libyan households from 12th February to 23rd May. The dollars were made available at the official rate of 1.4 dinars per dollar; the black-market rate is currently around 8 dinars per dollar. Individuals are entitled […]