Ministry of Economy will partner with Libya’s Central Bank in credit letters system

The Deputy Minister of Economy, Ali Al-Mahjoub
The Deputy Minister of Economy, Ali Al-Mahjoub

The Deputy Minister of Economy, Ali Al-Mahjoub, has confirmed that the Ministry of Economy will be part of the Central Bank of Libya’s system for providing letters of credits, which will reopen this Sunday in all commercial banks.

He outlined that lists with the names of companies that would import commodities will be distributed along with the prices, pointing out that the Economy Ministry will publicize the prices of the imported commodities so that the citizens can know the average price of selling in local currency.

Al-Mahjoub added that this step comes out of necessity due to the current liquidity crisis and once finished, the ministry will leave this issue to the demand and supply mechanism of the market.

The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Azara Media Azara Media
You might also like

Submit a Correction

For: Ministry of Economy will partner with Libya’s Central Bank in credit letters system

Your suggestion have been successfully submitted

There was an error while trying to send your request. Please try again.

Libyan Express will use the information you provide on this form to be in touch with you and to provide updates and marketing.