All imports into Libya must be paid for through official bank transactions
The Tripoli based Libyan Ministry of Economy and Trade has request that the Libyan Customs Authority start to implement its ...
Tag: LCs letters of credit
CBL opened all US$ 6.5 bn LC requests for import of Ramadan food products – no justification for shortages or price rises!
The Central Bank of Libya (CBL) reported yesterday that it had met all the requests to open letters of credit ...
Aldabaiba rejects and hits back at El-Kaber and Saleh’s attempts to introduce 27 percent FX tax
In a speech broadcast last night on state controlled Libyan TV, Tripoli based Libyan Prime Minister Abd Alhamid Aldabaiba said ...
Economy Minister relents to protests; orders release of goods held in ports
The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, today relented to protests by businesses through the various ...
Tripoli Chamber of Commerce expresses dissatisfaction with CBL’s LC policy
In a published statement last Tuesday, the Tripoli Chamber of Commerce addressed the Central Bank of Libya (CBL) on behalf ...
Tunisian goods entering Libya by land will no longer need to be paid for through Letters of Credit
By Sami Zaptia. London, 24 May 2021: Letters of Credit (LCs) will no longer be needed for Tunisian goods entering ...
CBL allows for opening of LCs for imports through land borders
By Sami Zaptia. (Logo: Tripoli CBL). London, 24 February 2021: The Tripoli Central Bank of Libya (CBL) has adjusted its ...
CBL responds to Global Witness report on LC corruption
By Sami Zaptia. (Logo: Tripoli CBL). London, 20 February 2021: The Tripoli Central Bank of Libya (CBL) today responded to ...
Fraudulent Libyan Letters of Credit money entering international financial system via London – Report
By Sami Zaptia. (Photo: Global Witness /Leon Neal / AFP via Getty Images). London, 19 February 2021: A new report ...
Libyan imports to continue to be allowed to enter without Letters of Credit payment prerequisite
By Sami Zaptia. Libyan imports to continue to allowed to enter without LC payment (Photo: Pymnts.com). London, 27 August 2020: ...
Top Stories
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Op-Ed: Reputational Damage Is Worse Than Losing Money
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CBL demands imports are conducted through official banking instruments and the elimination of the FX black market
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All imports into Libya must be paid for through official bank transactions
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Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank
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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
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.