Establishment of a mechanism to ensure the transfer of liquidity by land and air to all areas of Libya

Libya's Central Bank to reach an agreement in the coming week on a mechanism to provide a sustainable flow of cash to all of the regions in Libya

Liquidity has become one of Libya’s most pressing issues in the previous years due to the rise in crime, corruption and robberies by militias and corrupt political figures. [Photo: CBL]
The Governor of Libya’s Central Bank met with officials from the Bank’s various departments to discuss the implementation of the strategy to provide liquidity to all commercial bank branches and all regions of the country.

The Bank said in a statement that the meeting was part of the Central Bank of Libya’s follow-up on the liquidity condition of commercial banks’ branches and issuance units.

According to the statement, a functional mechanism would be agreed upon in the coming weeks, which would entail the transfer of liquidity to Sebha and Geryan’s issuance departments, as well as cooperation with banks to convey liquid cargo through land and air to all regions of Libya.

As a result, a cash cargo arrived in the city of Sabha today and will continue to arrive in the coming days.

The Central Bank of Libya urged bank departments to connect with the central bank’s issuing department, demanding complete liquidity requirements and confirming that sufficient stock will be available to meet banks’ needs over the next few months.

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