Local News: Economic News
Central Bank of Libya discusses creation of instant payments system
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Tripoli February 27, 2023 (Lana) - The National Council for Payments held, Monday, its first meeting for 2023 headed by Governor of the Central Bank of Libya, Al-Sadiq Al-Kabier.The Council discussed regulatory controls for local payment network and annual report for using various electronic payment methods, creating the Instant Payment system, in addition to the use of Smart Card and activating RTGS and ACH systems on state salaries to ensure their arrival on the same day to. ... Read more
Central Bank to issue electronic cards at value of (100) thousand dollars annually for small traders.
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Tripoli, February 23, 2023 (Lana) – The Central Bank of Libya announced, Thursday, its intention to issue electronic cards (MasterCard - Visa) at a value of $100,000 annually, to small merchants, as of the first of next March. In a post on its official Facebook page, the bank said; “ In order to facilitate and encourage small merchants with individual licenses and industrial and service companies”, the Central Bank of Libya decided, during the meeting of the bank’s governor, Al-Siddiq Al-Kabir with the concerned departments,... Read more
Enhancing economic cooperation is focus of Libyan-Tunisian ministerial session.
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Tunisia, February 23, 2023 (Lana) – A joint ministerial working session was held, Wednesday at the headquarters of the Tunisian Ministry of Industry devoted to further enhancing the prospects for Libyan-Tunisian economic cooperation in various fields, according to a statement on the official website of the Tunisian Ministry. The session was held under the auspices of GNU Minister of Transport, Mohamed Salem Al-Shahoubi, and Mustafa Qadara, Chargé d'Affairs at the Libyan Embassy in... Read more
Italy is Libya's first trading partner in the first eleven months of 2022.
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Rome, February 16, 2023 (LANA) - The Agency for Trade Promotion and Internationalization of Italian Companies confirmed today, Thursday, that Italy is Libya's first trading partner in the first eleven months of 2022.According to the Trade Promotion Agency, the volume of trade between Italy and Libya amounted to 11.09 billion euros, an increase of 67.38 percent compared to the same period in 2021, and a market share of 23.19 percent, ahead of China, which recorded an increase of 9.22 percent, with a market share of 4.41 billion... Read more
Minister of Economy and Trade participates in the meeting of the Arab Economic and Social Council.
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Tripoli, February 11, 2023 (LANA) - The Minister of Economy and Trade of the Government of National Unity, "Mohammed Al-Hawij," participated in the meeting of the Arab Economic and Social Council, which was held at the headquarters of the League of Arab States. In the meeting, the Arab ministers discussed ways to activate the Greater Arab Free Trade Area and a number of economic and social files in the region that contribute to enhancing trade exchange and facilitating the flow of... Read more
