Tag Archives | Central Bank of Libya (CBL)

EU Statement on the Trade in Libyan Oil

The European Union and the rest of the international community, as set out in several UN Security Council Resolutions on Libyan oil, have consistently opposed any attempt to sell or purchase Libyan oil outside the official channels managed by the Libyan National Oil Corporation (NOC). The oil infrastructure, production, and export need to remain under […]

Central Bank Governor meets Tunisian Counterpart

By John Lee. The Governor of the Central Bank of Libya (CBL), Saddek Omar Elkaber, met with Marwan Alabasi, Governor of the Central Bank of Tunisia last week in Tunis to discuss ways of improving cooperation and between the two institutions, specifically in the fields of anti-money-laundering (AML) and terrorism financing. This was the first […]

Franco-Italian group wins Contract for new NOC Buildings

By John Lee. The National Oil Corporation (NOC) and the French-Italian Artelia Group have signed a contract for the management of an ambitious development plan for Benghazi, including local offices for the NOC, further oil companies and governmental departments, as well as a hotel and conference complex. NOC chairman Mustafa Sanalla and Artelia executive director […]

Libya Removed from Terror-Financing Watchlist

By John Lee. The Financial Action Task Force (FATF) has reportedly removed Libya from its list of countries unable to fight money laundering and terrorism financing. Xinhua quotes the Central Bank of Libya (CBL) as saying: “[This] achievement means FATF’s approval to Libya complying with all the requirements and obligations to combat money laundering and […]

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 […]