Tobruk Commercial Bank refers letters of credit to Tripoli-based CBL

O_1_1

The Head of Tobruk banks, Tariq Aburraheem Milad, said the city’s Commercial Bank is waiting for the approval of the Tripoli-based Central Bank of Libya of the letters of credit it had sent earlier.

Milad said that if the CBL approves the letters of credit, the cash tragedy in Tobruk’s banks will come to an end, explaining that most of the letters of credit used to come from the western region.

“Tobruk banks’ administration staff are complaining about the delay of the implementation of the letters of credit by the CBL in Tripoli.” According to Milad.

Worth mentioning that Tobruk’s Commercial Bank has shut down its doors since late February due to lack of cash.

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: Tobruk Commercial Bank refers letters of credit to Tripoli-based CBL

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.