Libyan-Moroccan Business Forum scheduled for June 8 in Casablanca

Central Bank of Libya discusses foreign currency supply with Numisma Bank

Naji Issa, Governor of the Central Bank of Libya CBL, and his delegation met with Vivek Tyagi, Chairman and CEO of Numisma Bank, and Randal Quarles, a member of Numisma's Advisory Committee and former Vice Chairman of the US Federal Reserve. The meeting reviewed the CBL's plan to restore confidence in international financial institutions and complete the first phase of supplying US dollars to Libya, which included modernizing compliance controls and implementing regulatory measures for currency exchange activities. Discussions also covered the plan and mechanisms for distributing US dollars in cash and the readiness of the banking system, commercial banks, and exchange companies to resume selling US dollars directly to Libyan citizens. Numisma Bank representatives commended the CBL's efforts and affirmed their readiness to supply additional amounts of cash dollars and provide technical support. It was agreed to continue supplying US dollars based on the CBL's assessments and market needs, and to also supply British pounds and euros. Numisma Bank is a global distributor of various banknotes, licensed and regulated in the United States, with direct access to the Federal Reserve System.