Tag Archives | currency

Eastern Central Bank to Issue New Bank Notes

By John Lee. The Eastern Libyan Central Bank, based in Beida, is reportedly planning to issue 4 billion dinars in new 20- and 50 dinar bank notes on Wednesday. The notes, printed in Russia, are an attempt to ease the liquidity crisis in the country, but are considered by the Tripoli-based Central Bank to be […]

Phase Out of Old One-Dinar Notes

The Central Bank of Libya (CBL) has begun withdrawing the old one-dinar notes showing a picture of Muammar Gaddafi. They have been replaced by the slightly smaller lilac note introduced last February, showing revolutionary youth and the independence flag (pictured). The removal is effective as of 6th February 2014, and phase-out should be completed within […]

Deadline Extended (Again) for Old Banknotes

Libya Herald reports that the deadline for handing in old 5-dinar and 10-dinar banknotes has been extended again. The fourth and fifth series notes are being withdrawn from circulation, but can now still be used until 1st September. There will then be a two-month period for the old notes to be handed in to state […]

Deadline Extended for Old Banknotes

The Central Bank of Libya announced that the period for handing in older five- and ten-dinar banknotes has been extended to 30th May. The fourth and fifth series of the notes are being withdrawn from circulation; the series number is the first of the numbers on the front of the banknote. According to Libya Herald, […]

New Banknotes Soon to be Launched

The Central Bank of Libya (CBL) has announced that it will launch the new Libyan banknotes on the second anniversary of the 17 February Revolution, a delay from the initial plan of 31st January, according to Libya Herald. The total value of the new banknotes is understood to be LD 116 billion ($93 billion), made […]

CBL Begins Accepting ForEx Applications

The Central Bank of Libya has begun accepting applications for from businesses seeking permission to engage in currency exchange (ForEx) businesses. Applications can be submitted up to the 21st February. A number of offices and companies will then be selected according to the strategy of Bank. Further information (in Arabic) can be found here. (Sources: […]

New Libyan Currency “Beginning of Next Year”

An adviser to Libya’s Central Bank has said that although the Central Bank has worked for quite a while to issue a new paper currency, “the new currency had not been issued yet”. He said that images of the new currency published on social networking sites are not correct. He also indicated that the new […]