Applications for opening documentary credits will start today: CBL

The new controversial Central Bank of Libya (CBL) administration announced yesterday that, as of tomorrow, it will begin implementing requests for opening documentary credits received from commercial banks that were suspended.

It will also commence opening the coverage request system for commercial banks to request approval of documentary credits for customers.‎

The declaration from the CBL comes contrary to social media news that at least some international banks are refraining from acting as correspondence banks or dealing with the CBL/Libyan banks.

It will be recalled that the Libyan Presidency Council had appointed a new CBL Board and a new CBL Governor on 19 August. Former Governor Saddek El-Kaber accused the new Board of using force to enter the CBL.

The Presidency Council decision to remove incumbent Governor Saddek El-Kaber and appoint a new board and Governor and appoint a Handover Committee, are all regarded as ‘‘illegal’’ by the two legislative bodies, the House of Representatives (HoR) and the High State Council, and by the Libyan Political Agreement.

Meanwhile, several unconfirmed reports say El-Kaber and several key directors of the CBL have fled outside Libya for their safety.

Tripoli Libyan government responds to U.S. statement on CBL crisis – sees statement as positive (libyaherald.com)

U.S. calls for steps to maintain the credibility of the CBL (libyaherald.com)

Libya loses US$ 120 million, and counting, because of recent oil closures: NOC (libyaherald.com)

Newly installed CBL administration claims it has gained control of all its banking systems (libyaherald.com)

Presidency Council welcomes yesterday’s UN Security Council statement – will participate in national dialogue within broader framework (libyaherald.com)

UN Security Council calls for a consensus-based solution to the current Central Bank crisis (libyaherald.com)

New interim CBL Governor Abdel Fattah Abdel Ghaffar holds first press conference in CBL (libyaherald.com)

UNSMIL deeply concerned over the deteriorating situation in Libya resulting from unilateral decisions (libyaherald.com)

‘‘Takeover’’ by the Handover Committee of the CBL – new temporary Governor appointed (libyaherald.com)

Several banking operations suspended due to CBL crisis (libyaherald.com)

CBL Governor El-Kaber reports attempted storming to Attorney General – holds Interior Minister responsible for its security

HoR condemns attempted storming of CBL (libyaherald.com)

No intention to storm Central Bank by force and administrative crisis has nothing to do with security authorities: Acting Interior Minister Trabelsi (libyaherald.com)

Presidency Council to elect new board and Governor of CBL (libyaherald.com)

HoR confirms El-Kaber as Governor of the CBL (libyaherald.com)

The end of the road for current CBL Governor El-Kaber? (libyaherald.com)

UNSMIL rejects HoR election of Shukri as central bank governor, says Elkaber still in place | (libyaherald.com)

CBL Governor Saddek Elkaber sacked again | (libyaherald.com)