Central Bank of Libya

Libya's General Electricity Company (GECOL) announced this week that the country's power cuts will increase from the current to hours to five hours during Libya's notorious summer power outages.While the increase is more than double…

Head of Libya's Parallel Central Bank in Benghazi Ali Al-Hibri requested his retirement from the speaker of the house of representatives Aguila Saleh after an attempted attack on the bank and continued precarious working conditions.In a…

Official statistics have shown that because of the blockade enforced on oil facilities by Haftar forces, Libya's oil revenues decreased by 92% last year, a steep plummet that played a massive role in debilitating the economy by cutting off…

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…

The Central Bank of Libya's divided board of directors held a preliminary meeting for the first time in six years to address the exchange rates and ongoing financial crisis in the country.In an official statement, the CBL reported that…

In a press release, the Presidential Council of the Government of National Accord (GNA) said that the meeting addressed the consequences of freezing the oil revenues and that the best interest of the Libyan people was put above all else.…

Foreign currency exchange rates in the Libyan black market have reached record numbers for the first time in years.The dollar on Monday night spiked to 7.03 LYD, a 4.56% increase, which is a number it hasn't risen to since 2017.The…

In an official letter directed towards the country's top financial and economic officials, the prime minister of the Government of National Accord (GNA)  Fayez al-Sarraj has called for an emergency meeting to address the frozen oil revenues…

In a scathing video statement on the National Oil Cooepraton's official website, the head of the cooperation launched a verbal attack on the governor of the Central Bank of Libya (CBL) Sadiq al–Kabir, criticizing his financial policy and…

Recently, the National Oil Cooperation has taken the unexpected step of denying the Central Bank of Libya access to any oil revenue, the move was stated to be for the sake of guarding the country's oil recovery and the protection of the…

In a press release, Libya's National Oil Corporation (NOC) confirmed that it will not be transferring revenue funds to the Central Bank of Libya due to a lack of trust and transparency in the bank."Revenues will not be transferred to…

New embezzlement case ravages the National Commercial Bank in Libya as two female clerks are accused of skimming 20 million dinars from their financial control bank accounts of the National Commercial Bank in Al-Zawiya and Gharyan,…

A parallel central bank in eastern Libya stepped up deliveries of new banknotes from Russia this year, before and after eastern-based Khalifa Haftar launched a military offensive to capture Tripoli, Russian customs data show.The data…

The Central Bank of Libya (CBL) yesterday announced the new version of the cash currency Category 1 Dinar, coinciding with the 8th anniversary of February 17 revolution.It was during a ceremony held by the bank at its headquarters in…

 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 News shows. The CBL said the LFB is investing abroad…

After waiting for over 10 hours at the closed bank door of Jumhouriya Bank in Sarim Street in Tripoli, Siham Al-Rayani, died of fatigue and the following sudden high blood pressure.Sources and eyewitnesses wrote on social media that…