Archive | Banking & Finance

Malta Seizes $1.1bn Counterfeit Libyan Currency

The United States commends the Government of the Republic of Malta's announcement May 26 of its seizure of $1.1 billion of counterfeit Libyan currency printed by Joint Stock Company Goznak-a Russian state-owned company-and ordered by an illegitimate parallel entity. The Central Bank of Libya (CBL) headquartered in Tripoli is Libya's only legitimate central bank. The […]

Micro Grants Engagement for Women

Call for Proposals: Micro Grants Engagement for women inmates rehabilitation program Based on the importance of the rehabilitation programs for inmates, UNSMIL and UNDP are launching a call for proposals for NGO's to support with the rehabilitation programs for women inmates in Al-Jedeida prison, Tripoli. This program will focus on psychological support for inmates and […]

Call for Proposals: Micro Grants for Women

Call for Proposals: Micro Grants Engagement for women inmates rehabilitation program In recognition of political and security developments in Libya and related opportunities to enhance stability in Tripoli and avert the further erosion of institutional capacities, UNSMIL and UNDP are supporting the efforts of the Ministry of Interior, Libyan police and criminal justice institutions to […]

US Extends Sanctions on Gaddafi’s family

By John Lee. In a letter sent to the US Congress yesterday, President Donald Trump said that he has extended sanctions placed on the family of former Libyan leader Muammar Gaddafi for another year “to protect against the diversion of assets”, citing the on-going conflict in the country as constituting an “extraordinary threat” to US […]

GNA introduces New Program of Public Financial Reforms

Libya’s Ministry of Finance announced a new Public Financial Reform Program on Tuesday in a major step to regulate and reform Libya’s public financial management systems. The announcement is the first step in a program of essential reform initiatives planned by the Ministry of Finance, part of its overall commitment to ensure fiscal prudence through […]

EU supports SMEs through Libyan Banks

EU supports small and medium-sized enterprises through Libyan banks Within the EU4PSL project, a meeting was held on 20 December to establish founding units to support SMEs through Libyan banks. It took place at Expertise France office in Tunisia, in the presence of Dr. Mukhtar Al-Tawil, director of banking supervision, and representatives of Libyan banks: […]

Malta "Seizes Cash bound for Haftar"

By John Lee. Malta has reportedly seized a massive shipment of an unofficial Libyan currency believed to have been destined for the Eastern-based government in Baida. According to Times of Malta, the cash is thought to have originated from Russia, which has been printing money for the unrecognised Libyan government, based in the eastern city […]

More Russian-Printed Dinars enter Circulation

By John Lee. A parallel central bank in eastern Libya reportedly stepped up deliveries of new banknotes from Russia earlier this year, around the time that Khalifa Haftar launched his military offensive to capture Tripoli. Russian customs data obtained by Reuters shows nearly 4.5 billion Libyan dinars ($3.2 billion) despatched between February and June, apparently […]