Libya Business News
Wednesday, February 8, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Banking & Finance

CBL Issues First Forex Licences

29th July 2013
in Banking & Finance
CBL Issues First Forex Licences
Share on FacebookShare on Twitter

The Central Bank of Libya (CBL) issued the first licences for foreign exchange bureaux.

The provision of foreign exchange services had been the monopoly of banks during the Gaddafi era, and this is the first time the CBL has licenced this activity to non-banking operators.

According to a report from Libya Herald, the demand for licences was so over-subscribed in Tripoli and Benghazi that the Bank had to organise a public draw for the limited number of licences it plans to issue this year.

There were 480 applications all over Libya, and in Tripoli, for example, only 72 applicants were awarded licences out of the total of 195 that had applied.

The state monopoly, which controlled and manipulated the exchange rate and supply, caused a huge alternate or black market in foreign exchange that has been thriving for decades.

Forex is still restricted by the CBL, as proof of entry of goods into Libya is still required by banks. There is also a list of goods that is approved by the CBL for the official transfer of currency through local banks.

(Source: Libya Herald)

Tags: Central Bank of Libyaforex

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.