No Result
View All Result
Sunday, July 6, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

CBL bank circular recognizes Serraj authority, speeds up LCs

bySami Zaptia
April 6, 2016
Reading Time: 1 min read
A A
CBL bank circular recognizes Serraj authority, speeds up LCs

The CBL effectively recognized the UN-backed Serraj-led administration today (Photo: CBL).

By Sami Zaptia.

The CBL effectively recognized the UN-backed Serraj-led administration today (Photo: CBL).
The CBL effectively recognized the UN-backed Serraj-led administration today (Photo: CBL).

London, 6 April 2016:

The Central Bank of Libya (CBL) sent out a circular today to all Libyan banks recognizing yesterday’s . . .[restrict]decree (No.7) by the Faiez Serraj-led Presidency Council/Government of National Accord freezing all state-sector bank accounts.

The action by the CBL, as well as the meeting of the Makhzoum-led half of the GNC and the unconfirmed resignation of the internationally unrecognized and self-appointed so-called Salvation Government means that the Serraj-led administration has relatively quickly gained much de facto traction in Tripoli despite all the ongoing legal debates.

The CBL also held a meeting today during which it aimed to hasten the procedures to open LVs for basic goods and provisions. The meeting included the General Union of Chambers of Commerce which will form a list of well established companies with a proven track record to be nominated for express LC processing.

RELATED POSTS

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

All imports into Libya must be paid for through official bank transactions

Business leaders at the meeting were reported by the CBL to have welcomed the new steps for speeding up the opening of LCs as well as the US$ 3.15 bn earmarked for LVs by the CBL over the next three months.

The amount was seen as particularly relevant with the arrival of the holy fasting month of Ramadan in the firsts week of June – Ramadan being the peak month of consumption in Libya. [/restrict]

Tags: CBL Central Bank of LibyaFaiez Al-SerrajfeaturedGNA Government of National AccordLCs letters of creditpc presidency council

Related Posts

CBL receives results from meetings with international banks
Business

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

July 2, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement
Business

All imports into Libya must be paid for through official bank transactions

July 2, 2025
World Bank holds off on Tunisian $50m power plant fund; implications for Libya
Business

Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

July 1, 2025
CBL receives results from meetings with international banks
Business

CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

July 1, 2025
Harouge Oil reaches record 45,000 bpd production – to increase it by 25,000 bpd
Business

Harouge Oil Operations Company replaces Al-Ghani field pipeline

July 1, 2025
Next Post

UNSMIL demands impartial probe of Zawia migrant shootings

Serraj led PC/GNA orders all state institutions to start using the new official seal

Serraj led PC/GNA orders all state institutions to start using the new official seal

ADVERTISEMENT

Top Stories

  • CBL goes public at last about the counterfeit LD 50 notes – notes to be withdrawn until end of August

    CBL reveals discovery of LD 3.5 billion in counterfeit 50-dinar notes printed in Russia – PM calls on Attorney General to open investigation

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

    0 shares
    Share 0 Tweet 0
  • All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • Three Libyan companies win awards in Athens International Olive Oil Competition ‎

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

Op-Ed: Reputational Damage Is Worse Than Losing Money

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.