By the name of loyalty and recognition, the Central Bank of Libya represented by Mr. Saddek Omar Elkaber, Governor, honored a number of previous Governors of the Central Bank of Libya at the closing day of the workshop that was held on Thursday 11th of May 2017. The workshop was concerning economic policies, prospects and challenges. The past experienced Governors participated as experts for their patriotism to serve our beloved country. The Governor’s that have been honored are: Dr. Abdulhafeed Al Zletni Mr. Kasem Sherlala Mr. Rajab Al Mselati Dr. Taher Al Jhemi  

In a very special event that carries a lot of overtones, a workshop on economic policies was held in Tunisia on Thursday the 11th of May 2017 in which was sponsored and organized by the Central Bank of Libya with the participation and attendance of a number of members of Parliament, the State Council, the Vice President of the Presidential Council and previous Governors of the Central Bank of Libya. The workshop aimed to formulate a number of economic policies capable of dealing with the economic crisis linked with the political crisis to end suffering of citizens caused by increased inflation and also focused on the preparation and resumption of the process of development. The workshop included five categories: 1 – General policies of the state facing the crisis 2 – Financial Policies 3 – Monetary Policy 4 – Trade Policies 5 – Awareness and gathering public consensus. The economic policy workshop was divided into five working sessions, each session included a Director and a number of speakers. Experts are hopeful that the workshop will end with results that will be implemented into recommendations and effectively cause real economic change resulting in stability in the standard of living and prices. Also another goal is to help solve the liquidity crisis, the low purchasing power of the national currency, and provide appropriate conditions for investment and banking credit.  

According to the efforts done to alleviate the demand for foreign currency based on the statement published by The Central Bank of Libya concerning the sale of foreign currency to citizens through commercial banks by the official rate of the day as 400 US$ is the FX amount for each member . In implementation of the direct instructions of the Central Bank to the commercial banks and their branches to proceed with the implementation of the statement, The Central Bank continues depositing funds to all banks that began accepting requests from head of Households, through the  foreign exchange system for individuals launched by the Central Bank of Libya starting from the 12^th of February 2017. The following is a table showing : Number of transactions , Amount in Dollars and the amount in Libyan Dinars in each bank until the 3rd of May , the amount of  total foreign currency sold to head of Households is more than 162 Million Dollars until now.   Reserved amounts of foreign currency for all banks that have worked on the system from the 12^th of FEB 2017 Till the 3rd of May 2017  

 

According to the efforts done to alleviate the demand for foreign currency based on the statement published by The Central Bank of Libya concerning the sale of foreign currency to citizens through commercial banks by the official rate of the day as 400 US$ is the FX amount for each member . In implementation of the direct instructions of the Central Bank to the commercial banks and their branches to proceed with the implementation of the statement, The Central Bank continues depositing funds to all banks that began accepting requests from head of Households, through the  foreign exchange system for individuals launched by the Central Bank of Libya starting from the 12^th of February 2017. The following is a table showing : Number of transactions , Amount in Dollars and the amount in Libyan Dinars in each bank until the 19^th of April, the amount of  total foreign currency sold to head of Households is more than 100 Million Dollars until now.   Reserved amounts of foreign currency for all banks that have worked on the system from the 12^th of FEB 2017 Till the 19^th of Apr 2017  

Mr. Saddek Omar Elkaber, Governor of The Central Bank of Libya, held an expanded press conference on Sunday morning the 23rd of April, which seeks to communicate with public opinion and to clarify the facts of the difficult economic and monetary conditions that Libya is going through and negatively affecting citizens lives and living conditions through the wide decrease of importing of consumer goods, decrease in the purchasing power of the national currency because of the reduction in public revenues plus stoppage of production and investments, besides illegal speculation on currencies in the parallel market. The press conference was held at the Central Bank of Libya in Tripoli and was attended by a local media representatives, media and some journalists. The Governor responded frankly and transparently to all the journalists questions and comments, hoping to convey the facts to the Libyan citizens with professionalism and objectively.  

The Central Bank of Libya received a new shipment of Libyan currency estimated to be 350 Million Dinars which arrived from Britain  at the international airport of Matiga on Friday ,the 21^st of April . The Central Bank of Libya will distribute this shipment around commercial banks and branches all over the country , in order to relieve the suffering of the citizens for their need of cash.  

According to the efforts done to alleviate the demand for foreign currency based on the statement published by The Central Bank of Libya concerning the sale of foreign currency to citizens through commercial banks by the official rate of the day as 400 US$ is the FX amount for each member . In implementation of the direct instructions of the Central Bank to the commercial banks and their branches to proceed with the implementation of the statement, The Central Bank continues depositing funds to all banks that began accepting requests from head of Households, through the  foreign exchange system for individuals launched by the Central Bank of Libya starting from the 12^th of February 2017. The following is a table showing : Number of transactions , Amount by Dollars and the amount by Libyan Dinars in each bank until the 17^th of April ,In which 90 Million Dollars was the Total sold.   Reserved amounts of foreign currency for all banks that have worked on the system from the 12^th of FEB 2017 Till the 17^th of Apr 2017  

The Governor of the Central Bank of Libya, Mr. Saddek Omar Elkaber, attended a meeting on Friday 07 / 04 / 2017  in Valletta, Malta, between the governors of the European Central Banks and the Governors of the North African and Mediterranean Banks .

They discussed during the meeting the experiences of these countries in the role of monetary policy and the framework of financial policies under the current regional and global economic conditions.

As a confirmation from the European banks and their keenness to cooperate with the Central Bank of Libya represented by the Governor Mr. Saddek Omar Elkaber, The Governor met on Thursday 6^th of April 2017  in Valletta, with Mr. Mario Draghi, The President of the European Bank.

The meeting discussed ways of cooperation and coordination between the Central Bank of Libya and European banks, to confronting the challenges that facing the Libyan banking sector.

The Governor affirmed during the meeting that the Central Bank of Libya is a sovereign institution serving all Libyans without any exception.