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
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.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to email@example.com. Please include ‘Op-Ed’ in the subject line.
- NATO: We are dedicated to assisting Libya on its path to stability in terms of defense and security - June 16, 2021
- Administrative and financial failure casts a shadow of doubt over the National Safety Authority - June 16, 2021
- Al-Mangoush working to mobilize support for the full implementation of the Ceasefire Agreement - June 15, 2021