Tag Archives | letters of credit (LC)

From Militias to Mafias – Tripoli’s Militia Cartels

A new research paper from the Berlin-based Stiftung Wissenschaft und Politik (SWP) says that a handful of local militias have gradually brought much of Tripoli under their control growing into criminal networks straddling business, politics, and the administration. Author Wolfram Lacher (pictured) adds that the pillaging of state funds now benefits a narrower group than at […]

Dairy Firm “could close within two months”

By John Lee. Libya’s main producer of yoghurt and laban ( a traditional strained yoghurt) may have to stop production if it continues to be unable access new letters of credit from the Central Bank of Libya (CBL). Al-Naseem‘s CEO Mohamed Raied told the Libya Herald that the company held six months’ worth of stocks, […]