Central bank approves foreign currency financial cover requests.
Pulbished on:
Tripoli, 07.02.2016(Lana) The Central Bank of Libya decided to
approve foreign currency financial cover requests as of Sunday
provided that the requests are consistent with the bank's
instructions, controls and its electronic system.
This came in a letter circulated by the director of Banks and
monetary control of the CBoL, Abdulhafiz Ashur Tribal to directors of
the commercial banks Thursday.
The accounts dept of the CBoL decided December 20, 2015 halting
foreign currency financial cover requests until further notice.
The decision led to suffering of Libyans staying abroad for
treatment and studying as their credit cards were rendered
unoperational and dollar price in the black-market skyrocketed to 3.6
LD per dollar, whereas the official rate of exchange is 1.4 LD per
one dollar.
=Lana=