By Libya Herald reporter.
Tunis, 8 December 2015:
The Central Bank of Libya (CBL) announced today that it has issued new LD 5 . . .[restrict]and LD 10 notes.
The new notes will start to go into circulation as of 13 December.
The design of the new LD 5 note in light brown depicts the Ottoman clock tower in the Old City in Tripoli on the front and the Greek ruins of Temple of Zeus in Cyrene on the back side.
The new LD 10 note in light blue depicts the face of Libya’s anti Italian colonial era resistance hero Omar Mukhtar on its front and the same hero with fellow resistance fighters riding in motion on horseback on the back side.
The reason for the new notes is not immediately apparent. Newly designed five and ten dinar notes were introduced just three years ago. According to one official, however, the aim is to hit those holding vast amounts of the old notes, both within the country and abroad – although almost all Libyans with money abroad have them in other currencies.
Also, it is not clear if the new notes will be sent to banks in the east; the introduction of the new notes could have the effect of Libyans in areas adhering to the General National Congress using one set of banknotes, those with the House of Representatives, another.
Two weeks ago, when reports were circulating about the planned introduction of the new notes, CBL categorically denied any such plans. It was not true, they insisted. [/restrict]