The Central Bank of Libya (CBL) reported today that Numisma Bank pledged to supply record amounts of cash dollars to it in its Second Phase of cash injection to the Libyan market.
The pledge came during the hosting by Naji Issa, the CBL Governor, of senior officials from Numisma Bank last Tuesday (12 May) at the CBL’s Tripoli headquarters. The Numisma delegation was led by Vivek Tyagi, Chairman and CEO of the bank contracted to supply cash dollars to Libya.
The CBL said the move reflects growing international confidence in the CBL and Libya.
During the meeting, the CBL said, its ‘‘historic success achieved in resolving the dollar liquidity crisis’’ was highlighted. The successful completion of the first phase of distribution to commercial bank branches across Libya (east, west, north, and south) was reviewed.
This success coincided with unprecedented and fundamental reforms, most notably the modernization of compliance systems to the latest international standards and the establishment of the first regulatory framework for currency exchange activity in Libya’s history, the CBL said.
The CBL reported that both parties expressed their complete confidence in the efficiency of the banking system, commercial banks, and exchange companies in delivering cash dollars to citizens smoothly and transparently.
For his part, Tiaghi and his team, the CBL reported, commended what they described as the “qualitative leap” being led by the CBL, praising its commitment to implementing best practices and international standards. They also announced their full readiness to support this path by supplying additional and substantial quantities of US dollars, in addition to providing advanced technical support to the Central Bank and commercial banks.
Furthermore, the American delegation honored the Governor by presenting him with a symbolic representation of the first US dollar bill ever printed, reflecting the historical significance of this currency.
At the conclusion of the meeting, during which both parties affirmed their complete readiness to launch the second phase, a firm agreement was reached to supply additional dollar instalments in quantities determined by the Central Bank of Libya. This will ensure the sustainable supply of dollars to meet the needs of the local market and definitively eliminate any bottlenecks in the availability of hard currency.
The April 2025 Washington DC meeting
It will be recalled that CBL Governor Issa, and his accompanying delegation, met on 16 April with the Numisma Bank Chairman and CEO, Vivek Tyagi, and his delegation in Washington DC.
During that meeting, they reviewed the key milestones in the CBL’s plan to restore the confidence of international financial institutions and complete the first phase of supplying US dollars to Libya.
Numisma Bank is a global distributor of US dollars, euros, and other banknotes, providing reliable and efficient services to most countries worldwide. Licensed and regulated in the United States, Numisma Bank is a well-capitalized bank with direct access to the Federal Reserve System, including a master account and cash services.
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Numisma bank discusses with Central Bank of Libya continued foreign currency supply
