Archive | Banking & Finance

Central Bank Governor meets with House of Representatives

Governor of Central Bank of Libya meets with House of Representatives in Consultative Session The Governor of Central Bank of Libya (CBL), HE Mr Saddek Elkaber, has taken part in a consultative session with the House of Representatives in Tripoli to present an update on the state of the Libyan economy and respond to questions […]

Libyan Central Bank warns of Financial Collapse

By Al-Monitor staff. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News. Libyan Central Bank warns of financial collapse if oil production not restored The near halt of Libya's oil production and exportation amid the civil war could cause the country's economic collapse, the head […]

Police Arrest Ex-CEO of Libyan Foreign Bank

By John Lee. Police in Tripoli have reportedly arrested the former CEO of Libyan Foreign Bank (LFB). An official at the Interior Ministry told Bloomberg that Mohamed bin Youssef was taken into custody on the orders of the state prosecutor, who's investigating him for allegedly "squandering funds and mismanaging the bank's assets". The bank, which […]

LIA concludes First Phase of Transformation Programme

Libyan Investment Authority concludes first phase of transformation programme The Libyan Investment Authority (LIA), Africa's largest sovereign wealth fund, has announced the conclusion of the first phase of its comprehensive Transformation Programme, a major strategic mechanism for institutional development. The key milestone was marked in the presence of the International Forum of Sovereign Wealth Funds […]

Combatting Corruption and Money Laundering in Libya

EU launches joint project to prevent and combat corruption and money laundering The European Union, in collaboration with the United Nations Office on Drugs and Crime (UNODC) and the United Nations Interregional Crime and Justice Research Institute (UNICRI), is launching a new project entitled "Building Libya's National Capacity to Prevent and Combat Corruption and Money […]

Libyan firm Wins Prize at Virtual African Hackathon

By John Lee. The Central Bank of Kenya (CBK) has announces that a Libyan business has won third prize at the Virtual African Hackathon. MobiCash, a digital wallet service from Masarat IT & Financial Services (MITF), was one of two Libyan companies to make the short-list in the competition, the other being CrossPath. (Source: CBK)

Central Banks of Turkey and Libya sign MoU

A Memorandum of Understanding was signed between the Central Bank of the Republic of Turkey and the Central Bank of Libya (CBL) on 31 August 2020, laying the groundwork for continued cooperation in the field of central banking. In the framework of the MoU, the two central banks aspire to carry out activities to foster […]

International Review of Central Bank's Two Branches

The United Nations is Pleased to Announce the Launch of the International Financial Review of the two Branches of the Central Bank of Libya Acting Special Representative of the Secretary-General and Head of the United Nations Support Mission in Libya (UNSMIL) Stephanie Williams is pleased to announce the finalization of the process to initiate an […]