Tag Archives | liquidity

End to Libyan Liquidity Crisis “by early 2019”

By John Lee. The Deputy Prime Minister of the Tripoli-based Government of National Accord (GNA) has reportedly said he sees the Libyan dinar stabilising next year as restoring liquidity could crimp armed groups’ funds. Ahmed Maiteeg (pictured) told Reuters that Libya expects to end a long-running liquidity crisis by early 2019 as a foreign currency tax […]

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 […]

Will Libya Devalue its Dinar?

By Jason Pack for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Nearly six years after the fall of Col. Moammar Gadhafi in 2011, the tally of political, social and security-related challenges facing Libya is considerable. International efforts to reconcile the deep political […]

New Banknotes delivered to Central Bank in Tripoli

The Central Bank of Libya (CBL) received on Wednesday 22nd of February a new shipment of Libyan currency estimated to be 250 Million Dinars. This shipment that arrived from Britain at Mitiga Airport is considered the fourth that the Central Bank receives this month. As usual this shipment will be distributed around various commercial banks […]

CBL Receives new Shipment of Libyan Currency

By John Lee. The Central Bank of Libya (CBL) in Tripoli received a new shipment of Libyan paper currency on Friday. The dinars were produced in the United Kingdom, and sent by air via Mitiga International Airport. In a statement, the CBL said it will distribute the shipment to commercial banks in “all regions of […]

Delivery of New Bank Notes stokes Inflation Fears

By John Lee. Libya Herald reports that 400-million dinars worth of new bank notes have been delivered to the Central Bank of Libya (CBL), and another 600-million dinars is due to arrive in Tripoli within the next couple of weeks. The notes were reportedly made by a UK company, and their arrival is stoking fears […]

Liquidity Crisis: Bank Manager kills Customer

By John Lee. The acting manager of the North Africa Bank in the eastern city of Al-Marj (pictured) has reportedly killed a customer following a violent brawl inside the bank. The Libya Observer quotes local sources as saying that the customer argued with the manager about lack of cash in the bank. Bank guards intervened […]