The Central Bank assures citizens of the availability of cash for the foreseeable future

The CBL reassures citizens that cash will continue to be available for the foreseeable future as a shipment of 44 million LYDs arrives in Ubari with more expected in a few days

44 Million Dinars arrived in Ubari this week with more expected to arrive later in the week. Photo: Internet]

The Libyan Central Bank, according to a credible source, has assured all citizens of the availability of large sums of cash in all commercial branches.

In a press release, the source stated that all commercial bank branches are open to customers on a regular basis, confirming that most banks have raised their drawing limits as part of the Libyan Central Bank’s strategy to ensure a consistent flow of cash to bank branches.

A cash shipment worth 44 million dinars arrived in the city of Ubari this week, according to the source, and additional shipments to the south are planned for later in the week.

Libya’s largest bank, state-owned Jumhouria Bank, reported last week that it had increased ATM withdrawal limits to LD 400 a day, 1,200 dinars per week, it also increased personal withdrawals from 2000 to 5000 LYD.

Similarly, Sahara Bank has announced that all of its branches will have unlimited cash withdrawal for all customers.

The rise in cash availability is a result of the Central Bank of Libya’s (CBL) efforts to boost cash availability for Libyans.

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