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History

money

The CBL derives its functions and powers from the Bank law no. 1 2005. The primary mission of the CBL is to achieve and maintain price stability within the context of monetary policy in the interest of balanced and sustainable economic growth in Libya. It also plays a pivotal role in ensuring financial stability.
1956
The CBL started its operations

The CBL started its operations on April 1, 1956. Replacing the formerly established “Libyan Currency committee”, which was established in 1951. The functions of the committee were limited to backing the issued local currency with Sterling assets, thus having no role in controlling money supply, credit, or in commercial banks supervision.

The CBL’s objectives:

  • Issuance of Libyan banknotes and coins.
  • The stability of currency in Libya.
  • Management of Reserves and Control of Foreign Exchange.
  • Regulating the quantity, quality and cost of credit to meet the requirements of economic growth and monetary stability.
  • Taking appropriate measures to deal with foreign or local economic and financial problems.
  • Lender of last resort.
  • Supervising Commercial banks to ensure the soundness of their financial position and protecting the rights of depositors and shareholders.
  • Acting as a banker and fiscal agent to the state and public entities.
  • Managing and issuing all state loans.

Objectives and Main Duties

Ex Governors

Dr. Qasim Sharh Al-Bal Azouz

Mr. Farhat Omar Bengdara

2006/03/06
2011/02/17

Dr. Ahmed Amnisi Abdel Hamid

2001/03/23
2006/03/05

Dr. Al-Taher Al-Hadi Al-Juhaimi

1996/02/14
2001/03/22

Dr. Abdel Hafeez Mahmoud Al-Zalitni

1990/10/07
1996/02/13

Mr. Muhammad Al-Zarrouk Rajab

1987/01/04
1990/10/06

Mr. Rajab Abdullah Al-Masalati

1981/01/18
1986/03/03

Mr. Qasim Muhammad Sharlala

1969/09/20
1981/01/17

Mr. Khalil Ahmed Al-Banani

1961/03/27
1969/09/01

Dr. Ali Nour al-Din al-Anezi

1955/04/26
1961/03/26