No Result
View All Result
Friday, July 18, 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

Chambers of commerce and business councils call for a protest in Tripoli next Sunday against CBL LC policy

bySami Zaptia
March 7, 2024
Reading Time: 2 mins read
A A
Misrata Chamber opens registration of contracting companies to implement its projects – including foreign and JV companies

Misrata Chamber of Commerce (Logo: MCC)

The Chambers of Commerce, Industry, and Agriculture in the (central, western, and southern) regions, the Business Owners Council (LBC), the Libyan Council of Businessmen (Misrata NGO), and the Libyan Industry Union (LIU) today called upon companies, merchants, and businessmen to hold a protest against the monetary policies of the Central Bank of Libya leading to a high exchange rate of the US dollar and the unfairness in distributing import credits (Letters of Credit – LCs) equally to manufacturing and supplying companies.

The move has been spearheaded by the Misrata Chamber of Commerce, the city where Tripoli based Libyan PM, Abd Alhamid Aldabaiba, hails from.

The protest is also against the decisions of the Ministry of Economy and Trade, which monopolizes the import and export of some goods by certain companies, as well as what they referred to as its ill-considered decisions regarding the import of medicines and medical equipment.

The call for a demonstration follows several meetings by the various chambers of commerce including one last Tuesday (5 March) at a leading hotel in Tripoli. This included chambers of commerce, industry and agriculture from Misrata, Sirte, Zliten, Al-Marqab, Al-Jabal Al-Gharbi, Zintan, Murzuq, Sebha, Ajdabiya, and the Western Region and Derna. In addition to the members of the Tripoli Chamber, members of the Al-Jafara Chamber, the Business Owners Council (LBC), the Libyan Industry Union (LIU), accompanied by a group of companies that manufacture and supply all goods from all over Libya.

The meeting discussed the monetary policies followed by the Central Bank of Libya (CBL) and the unfair distribution in granting documentary credits to companies supplying all goods and commodities inside Libya and restricting them to specific goods and specific companies and not others.

RELATED POSTS

CBL Governor Issa pushes for improved e-payment services despite increase of points of sale by 92% and e-transactions by 75% since 2024

Former ATIB bank Chairman Naaman Elbouri recalls his unjust kidnapping and detention – calls on CBL Governor to implement law against those unjustly accused

It will be recalled that the CBL has restricted the opening of LC’s to, mainly essentials and food stuffs as it says the Tripoli government has overspent. The implication is that it has run out of hard currency. This has led to a spike in the black-market value of hard currencies.

The owners of the companies expressed their discomfort regarding these policies taken by the Central Bank, and that opening credits at the official exchange rate is a legitimate right for them, just like their counterparts from other companies. Leaving certain goods to the national market will cause prices to rise, which will burden the livelihood of ordinary citizens, they explained.

The Chambers of Commerce have sent preparing memorandums in this regard to address the relevant competent authorities to resolve this crisis experienced by the owners of companies that supply and manufacture goods.

It was agreed to form a higher committee of chambers and businessmen attending the meeting to follow up on the crisis with the CBL and relevant authorities.

 

Tripoli Chamber of Commerce expresses dissatisfaction with CBL’s LC policy (libyaherald.com)

Misrata Chamber to hold protest in front of the CBL to ‘‘escalate the situation’’ regarding unfair monetary policy and policy neglect (libyaherald.com)

Concealed spat between Tripoli PM and Central Bank Governor goes public (libyaherald.com)

Dinar crashes as oilfields are closed by Petroleum Facilities Guards seeking improved pay (libyaherald.com)

 

Tags: CBL Central Bank of Libyachamber of commerceChambers of Commerceexchange rate

Related Posts

Tax system reform forum makes 11 main recommendations
Business

Tax Authority holds symposium entitled “Tax on e-Commerce”

July 17, 2025
Libyan Ports fees increased by 235 percent to reflect dinar devaluation
Business

Libyan Ports Company signs contract in Germany for 154-ton Liebherr container crane for Khoms Port

July 17, 2025
CBL receives results from meetings with international banks
Business

CBL Governor Issa pushes for improved e-payment services despite increase of points of sale by 92% and e-transactions by 75% since 2024

July 16, 2025
CBL temporarily suspends chairman and directors of ATIB
Business

Former ATIB bank Chairman Naaman Elbouri recalls his unjust kidnapping and detention – calls on CBL Governor to implement law against those unjustly accused

July 16, 2025
Twenty-three dead and 106 injured in Tripoli’s security forces clashes
Business

After signing agreement in April with Georgetown University, the first emergency response training programme is launched in DC: EMSC

July 16, 2025
CBL receives results from meetings with international banks
Business

CBL orders government entities from 1 August to receive payment for services from citizens electronically

July 16, 2025
Next Post
Organ transplant services resume in Libya, restoring public trust in state system: Ministry of Health

Libya and Italy discuss establishment of an Italian-Libyan hospital and medicine manufacturing in Al-Maya factory

Attorney General orders arrests at Jumhouria bank branch for embezzlement

Five health workers imprisoned for issuing fake Covid-19-free certificates

ADVERTISEMENT

Top Stories

  • Libyan Railways Implementation Authority invites International Federation of Railways to participate in November workshop

    China to resume implementation of its stalled railways projects in Libya

    0 shares
    Share 0 Tweet 0
  • Libya and Nigeria discuss gas projects, extension of export pipelines to Europe and high-level delegation visit to Tripoli

    0 shares
    Share 0 Tweet 0
  • Tripoli based Libyan government plans to complete 150,000 housing units by 2030

    0 shares
    Share 0 Tweet 0
  • Fuel subsidies reached LD 60 billion, 30 percent of which is smuggled – therefore can invest just LD 5 bn in housing: CBL Governor Issa

    0 shares
    Share 0 Tweet 0
  • Former ATIB bank Chairman Naaman Elbouri recalls his unjust kidnapping and detention – calls on CBL Governor to implement law against those unjustly accused

    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

National Strategy for Prevention and Combating of Corruption (2025-2030) launched by ACA

Western Mountain Military Region conducts operation around Ghadames against drug trafficking and transnational organised crime

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.