No Result
View All Result
Wednesday, October 15, 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

Banks agree loans repayment freeze for LCC employees

byMichel Cousins
May 18, 2017
Reading Time: 2 mins read
A A

By Libya Herald reporter.

Tunis, 16 May 2017:

A number of banks in Benghazi have agreed to suspend loan deductions from the accounts of employees of the Libyan Cement Company (LCC) until the end of the year. It follows an approach to the banks by LCC’s Human Resources department. It made the move, a statement from LCC said, in order “to ease the burden on suffering families in Benghazi”.

With the Hawari cement works out of action having been damaged in fighting and, as a result, staff receiving just a minimum wage, many of them, the statement noted, had been unable to withdraw cash from their accounts because of commitments to make monthly debts repayments.

There had been several meetings to negotiate the issue with the National Commercial Bank, Wahda Bank and Jumhouria Bank both in Benghazi and Beida, the LCC said. The banks had agreed to stop deducting the repayments until the end of 2017 after the LCC provided them with guarantees.

RELATED POSTS

Acting Director of Benghazi’s Hawari General Hospital in 2018-19 detained for LD 1.48 million medicines and supply corruption

Libya’s Tika Construction Chemicals company exports another shipment of its Xtreme porcelain tile adhesive and grouting materials to Grenada

It is thought that some 1,400 out of LCC’s total workforce of around 2,200 will benefit from the deal. No figure is available for how much in involved, but but it is said that, individually, the deductions represent a substantial portion of each employee’s salary.

The agreement follows the news that the Beida-based interim government is continuing to pay LCC employees the LD 450 minimum wage that is going to staff of a number of foreign-run companies currently not operating.

In the LCC  statement, Ahmed Ben Halim, chairman of the Joint Libyan Cement Company, its parent company, thanked the banks for the move and said that the LCC was doing all it could to reopen the Benghazi factories, recaptured in April last year. This, though, would take at least a year given the extensive damage to them.

 

 

Tags: BenghaziLCCLibya

Related Posts

Economic Conference on Diversifying Sources of Income held in Tripoli
Business

Economic Conference on Diversifying Sources of Income held in Tripoli

October 15, 2025
LBC leading delegation to Miami for America’s Food and Beverage Show – 18 to 20 September
Business

LBC to hold virtual workshop with IsDB on export mechanisms and access to international markets

October 15, 2025
Use of card and e-payments on the increase – helping to resolve Libya’s bank cash liquidity problem
Business

Traders warned of failure to use e-payments ahead of clampdown by Municipality Guards

October 15, 2025
LAIP’s Ola Energy opens two new petrol stations in Tunisia
Business

Libya Africa Investment Portfolio announces strategic lubricant blending project between its Ola Energy Company, Misrata Free Zone, and Brega Marketing Co.

October 15, 2025
NOC announces force majeure at Zawia port
Business

National Oil Corporation discusses prospects for technical cooperation with America’s Halliburton

October 15, 2025
The International Forum & Exhibition for Free Zones – Misrata: 28 to 29 June at Misrata Free Zone
Business

Misrata Free Zone signs MoU with Italy’s Eli-Fly Helicopter Services Co.- its Misrata Free Zone branch inaugurated

October 14, 2025
Next Post

Sirte reconstruction discussed by Serraj and town’s mayor

Saiqa chief Bukhamada rejects Warfali resignation: report

libyaherald-Ads

Top Stories

  • Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    0 shares
    Share 0 Tweet 0
  • Emirates Airlines security delegation visits Tripoli to begin Mitiga Airport inspection tour

    0 shares
    Share 0 Tweet 0
  • After its withdrawal from circulation of certain banknotes, CBL reveals that currency printed unofficially in Russia totalled to 6.5 billion dinars

    0 shares
    Share 0 Tweet 0
  • CBL reviews foreign assets totalling US$ 98.8 billion with investment return of US$ 2.2 billion to September

    0 shares
    Share 0 Tweet 0
  • IOM identifies 894,890 migrants in Libya from 45 nationalities in May-July 2025 reporting period – 18 percent up on 2024

    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

Economic Conference on Diversifying Sources of Income held in Tripoli

LBC to hold virtual workshop with IsDB on export mechanisms and access to international markets

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.