Libyan Central Bank announces new measures to regulate foreign exchange market, distributes $1 billion to banks
via Libya Herald2 min read
The Central Bank of Libya CBL has unveiled a comprehensive set of new measures aimed at regulating the foreign exchange market. These measures precede an expanded meeting with commercial bank managers to establish implementation mechanisms for smooth sales and enhanced transparency. The announcement comes as the Libyan dinar has gained value against the dollar in the black market, trading under LD 7 per dollar, following the CBL's efforts over the past two months to inject dollars and Libyan dinar liquidity. This was further supported by an agreement for a unified budget for Libya and a rise in international crude oil prices. The CBL plans to discuss a mechanism for selling dollars in cash through a dedicated system, identifying branches across Libya for sales and coordinating the transfer of US currency. An initial payment of US$ 1 billion in cash will be distributed to banks, with customers able to choose their bank and branch to specify transaction types such as cash, money transfer, or inter-account transfer. Cash dollar withdrawals will be available up to US$ 2,000 through designated branches, with the difference paid in Libyan dinars at the official exchange rate plus agreed-upon fees, capped at 6.43 dinars per dollar. The agenda also includes implementing a "restricted deposit" tool, allowing beneficiaries to purchase foreign currency up to 50% to 70% of their holdings. Discussions will also cover resuming dollar transfers between accounts via the instant payment syste
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The Ministry of Economy and Trade announced the registration of 106 decisions for branches of foreign companies, joint ventures, and representative offices from January to June 2026. This reflects growing investor confidence and an improved business environment in Libya. The decisions include 79 foreign company branches, 19 joint ventures, and 4 representative offices. The contracting sector led with 43 decisions, followed by oil and energy with 34. Turkey ranked first in terms of nationality with 17 decisions, followed by Tunisia with 13, and the United Arab Emirates and China with 7 each. The Ministry attributes these indicators to government efforts to develop the investment climate, simplify procedures, and strengthen international economic partnerships. Additionally, an e-website for foreign company registration will launch in August 2026 to streamline procedures and enhance transparency.
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