Tripoli, 3 February 2013:
The Central Bank of Libya (CBL) has announced that it will launch the new Libyan banknotes on the . . .[restrict]second anniversary of the 17 February Revolution. It had earlier announced that it would start issuing new Libyan banknotes as of 31 January.
The new notes have values of one, five, ten, twenty and fifty dinars. Apparently, the LD 50 notes, previously shelved to try and control the black economy, will now be issued. The total value of the new banknotes is understood to be LD 116 billion.
The Governor of the Central Bank, Saddek Elkaber, said yesterday that the new money had been printed in a record time of just ten months.
He added that the new banknotes had been modernised and improved, even including “a property that allows blind people to identify their financial value.” He added that the new notes would reduce forgeries because of features such as security tags and the use of four colours.
Once the new banknotes have been issued, there will be a phased withdrawal of the old ones. [/restrict]