Posts Tagged ‘CBL’

Libyan Foreign Bank finds leaked Audit Bureau strange, says ready to respond

  • 19 August 2018 - 15:44
Libyan Foreign Bank finds leaked Audit Bureau strange, says ready to respond

The Libyan Foreign Bank (LFB) said it had been bewildered to see a leaked Audit Bureau report draft prior to being discussed with the concerned departments at the LFB. “The leak comes despite the fact that the LFB has previously reviewed all Audit Bureau inquiries and responded accordingly,...

Libyan Foreign Bank rejects CBL’s decision

  • 16 August 2018 - 15:00
Libyan Foreign Bank rejects CBL’s decision

The Libyan Foreign Bank (LFB) has issued a statement denouncing the decision taken by the Governor of the Central Bank of Libya (CBL) Al-Sediq Al-Kabeer to dismiss the General Director of the LFB and the board of directors as well as to place them under investigation. The LFP said on Tuesday...

Report: Libya’s oil money goes to foreign banks as citizens face looming poverty

  • 18 July 2018 - 12:24
Report: Libya’s oil money goes to foreign banks as citizens face looming poverty

  The Independent reported Tuesday that in Libya, corruption was endemic in the country under Moamar Gaddafi, but now, amid the chaos of military struggle, it overwhelms the whole fabric of the country. The British newspaper said that Libya is an example of a nation that is cursed by its own...

Libya’s PM asks UN to from commission to monitor central bank transactions, governor welcomes

  • 10 July 2018 - 23:57
Libya’s PM asks UN to from commission to monitor central bank transactions, governor welcomes

The Head of the Presidential Council Fayez Al-Sirraj has asked in a letter to the international community for forming a commission to be tasked with monitoring and going though every transaction made by the Central Bank of Libya (CBL) in Tripoli and the parallel institution in...

Governor of parallel Libya central bank opposed to economic reforms

  • 10 June 2018 - 15:57
Governor of parallel Libya central bank opposed to economic reforms

The former governor of the parallel Central Bank of Libya in al-Bayda, eastern Libya, Ali Al-Hibri, said the economic reforms announced by the CBL governor in Tripoli Al-Siddiq Al-Kabeer and the Presidential Council in Tunisia are "harmful" and could lead to the collapse of the Libyan...

Central Bank of Libya imposes fees on selling foreign currency

  • 10 June 2018 - 00:38
Central Bank of Libya imposes fees on selling foreign currency

The Central Bank of Libya (CBL) agreed in a meeting Saturday to charge fees on foreign currency transactions in the country in an attempt to narrow the gap between the official rates of foreign currency and those on black market.  The step was announced by the CBL Governor Al-Sediq Al-Kabir...

Key economic reforms announced by Libya’s central bank and Presidential Council

  • 6 June 2018 - 00:29
Key economic reforms announced by Libya’s central bank and Presidential Council

The Governor of the Central Bank of Libya (CB) in Tripoli Al-Sidiq Al-Kabir said that officials in the Government of National Accord's Presidential Council had reached agreement on enacting key economic reforms, including to fuel subsidies and the exchange rates, by the end of July 2018. This...

Libya Central Bank blames Audit Bureau for rocketing of foods prices in Ramadan

  • 17 May 2018 - 17:45
Libya Central Bank blames Audit Bureau for rocketing of foods prices in Ramadan

The Central Bank of Libya (CBL) issued a statement blaming the Audit Bureau for the current high prices of foods and goods in the markets during Ramadan. CBL said it had informed the related authorities of a looming economic crisis and foods shortages as well as rocketing prices in Libya, but...

Libyan Foreign Bank is gambling with Libyans’ money, CBL says

  • 11 March 2018 - 15:30
Libyan Foreign Bank is gambling with Libyans’ money, CBL says

  The Central Bank of Libya (CBL) has accused the Libyan Foreign Bank (LFB) of gambling with Libyans’ money, a letter issued by the CBL and obtained by Libyan Express shows.   The CBL said the LFB is investing abroad with bonds that are not legal and have weak...

Libyan Tripoli-based CBL says Libya is witnessing thorough economic reform

  • 5 February 2018 - 20:31
Libyan Tripoli-based CBL says Libya is witnessing thorough economic reform

The Tripoli-based Central Bank of Libya (CBL) has issued a statement detailing the results of the latest efforts it had done to regain the value of Libyan dinar and to boost the country's economy.   The CBL assured all Libyans that prices of goods and foods are on the...