Family dollar relief grant relaunched

The grant is set to start again this upcoming Sunday to finalize allocations of 2019

The dollar grant was launched in 2017 by the CBL to oppose the price of the dollar on the black market. [Photo: Internet]
The head of the family dollar grant in the central bank of Libya Salem al-Siwi announced in a televised statement this Wednesday that the grant will be opened this coming Sunday to complete 2019 allocations.

The family dollar grant is a system launched by the Central Bank of Libya (CBL) in 2017 to sell 400 US dollars ( later increased to 500 ) to every family member in Libya at the official exchange rate to combat the climbing exchange rates of the black market.

The head of each household is allowed to buy the dollars either using cash or money already in their bank account and if the dollars are not cashed out during the year they are issued, they remain in the account for as long as the owner pleases to be withdrawn later.

Meanwhile, the Joint Technical Committee, formed by the Board of Directors of the Central Bank of Libya, completed its deliberations regarding the unification of exchange rate and submitted their final report to the board to be reviewed.

After holding their first unified meeting in six years, sources have confirmed that the Central Bank’s board of Directors have collectively agreed to meet next week on Thursday to announce a decision to the unification of the official exchange rate.

Since the unified meeting of the board of directors, the exchange rate on the black market has been in a steady decline, dropping to 5.50 today.

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