CBL Attributes Shortage of Liquidity at Banks to Hoarding, Division and Corruption.
Pulbished on:
Tripoli, 8 March 2016(Lana) The Central Bank of Libya has
attributed the current money shortage crisis in the banks to the fact
that LD 24 billion are being circulated outside the banks.
This amount which is mainly hoarded by businessmen has led acute
shortage of liquidity at commercial banks, said Issam Al oul, the CBL
Spokesman, who added that if only 1 percent was deposited to bank
accounts, it would have promptly ended the money shortage problem.
Al Oul noted that there were other reasons to money shortage at
banks, which is the political and administrative division in the
country, diminishing of revenues as a result of closure of oil fields
and terminals, and the growing corruption at public and private
sectors.
=Lana=