Posts Tagged ‘CBL’

Sanallah asks central bank to add 67% raise to oil workers’ salaries

  • 30 October 2018 - 19:11
Sanallah asks central bank to add 67% raise to oil workers’ salaries

The chairman of Libya's state oil firm National Oil Corp (NOC) has asked the central bank to increase salaries of oil workers by 67 percent in 2019, a statement said on Tuesday. The North African country approved in 2013 such a pay rise which was never implemented as Libya's chaos accelerated then...

Bank clerks intentionally delaying kickoff of Libya’s economic reforms

  • 13 October 2018 - 22:30
Bank clerks intentionally delaying kickoff of Libya’s economic reforms

Driven by personal ends and for their own benefits, employees at Libya's banks are now delaying the implementation of the economic reforms approved over a month ago by the Central Bank of Libya and the Presidential Council, a Libyan economist told the Libyan Express.  The sources, who preferred...

Dr. Benzeer: Imposing fees on foreign currency transactions is not a Presidential Council’s decision

  • 13 September 2018 - 22:14
Dr. Benzeer: Imposing fees on foreign currency transactions is not a Presidential Council’s decision

The Libyan professor of International Law and Human Rights, Dr. Ramadan Benzeer, has stated that the decision of the Presidential Council (300/2018) that imposes fees on selling foreign currency is illegal as it has been issued by a non-specialized and unauthorized entity. “Such a decision...

Libyan Foreign Bank explains profits of recent years in black and white

  • 30 August 2018 - 22:28
Libyan Foreign Bank explains profits of recent years in black and white

  The Libyan Foreign Bank (LFB) has gained massive profits amid the crises and financial as well as economic unrest in Libya over the last few years, a report by the LFB says.   The report that was presented by the LFB's General Director Mohammed Bin Yousif on a local...

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...