馃嚤馃嚲LibyaNorth Africa
Central Bank of Libya systems fully operational, personal loan limit to increase
via Libya Herald2 min read
A Central Bank of Libya CBL source informed Libya Herald that all personal loan systems, including branch selection, are back in operation. Commercial bank branches are now accepting individual reservations and selling US dollars in cash. The documentary credit system is also operational, with commercial banks receiving and approving requests for coverage related to letters of credit and remittances, and selling foreign currency for approved transactions. The CBL confirmed that SWIFT, instant settlement, and accounting systems are functioning normally, and connections with exchange companies remain uninterrupted for foreign currency sales. Commercial banks will extend service hours to meet demand. The CBL plans to issue a directive to raise the personal allowance ceiling to US$4,000 and allow cash dollar sales for medical treatment and education, with regulations to follow. The CBL stated that foreign currency reserves are fully available and can supply up to US$2 billion in cash weekly. Despite these efforts, the US dollar has not fallen below the LD 7 mark on the black market, currently trading at LD 8.42 per dollar, compared to the official CBL rate of LD 6.6 per dollar.
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