Libya’s Central Bank moves to calm currency concerns

The Central Bank of Libya has issued reassurances about its operations following recent correspondence with the Audit Bureau, emphasising that all banking activities are proceeding normally.

Speaking to Ean Libya, a senior bank official, who requested anonymity, clarified that the correspondence pertains to routine administrative procedures that can be managed “easily” and poses no risk to operations. The source highlighted the bank’s ongoing cooperation with the Audit Bureau.

The official revealed that the bank may appoint an external auditing firm as a precautionary measure, while emphasising that such a move would not disrupt regular operations, including foreign currency transactions.

“The current situation is temporary,” the source stated, warning against market speculation and affirming that foreign currency availability will not be affected in coming months, citing the bank’s strong relationships with international correspondents.

The Central Bank official emphasised the institution’s commitment to maintaining market stability and ensuring adequate foreign currency supply for both citizens and merchants.