{"id":865,"date":"2022-06-09T09:10:51","date_gmt":"2022-06-09T09:10:51","guid":{"rendered":"https:\/\/newcbl.demo.ly\/en\/?page_id=865"},"modified":"2025-11-23T12:25:23","modified_gmt":"2025-11-23T12:25:23","slug":"history","status":"publish","type":"page","link":"https:\/\/cbl.gov.ly\/en\/history\/","title":{"rendered":"History"},"content":{"rendered":"<p><img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/money.jpg\" alt=\"money\"><\/p>\n<div>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/money-libyan-dinars.jpg\" alt=\"\"><\/p>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"542\" height=\"200\" class=\"el-image uk-background-primary\" alt=\"\" data-src=\"\/en\/micifaf\/2022\/07\/cbl-logo-blue-background.svg\" uk-img=\"\" src=\"\/en\/micifaf\/2022\/07\/cbl-logo-blue-background.svg\" \/><\/p>\n<\/div>\n<\/div>\n<p><img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/sites\/4\/2022\/11\/cbl-logo-blue-background.svg\" alt=\"\"><\/p>\n<div>The Central Bank of Libya is an independent financial institution wholly owned by the Libyan state and serves as the country\u2019s monetary authority. Its mandate is defined by the law establishing the Central Bank and subsequent amendments, most recently the Banking Law No. (1) of 2005 as amended by Law No. (46) of 2012. The Bank\u2019s objectives include maintaining monetary stability and supporting the growth of the national economy within the framework of the state\u2019s overall policy.<\/div>\n<ul>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/history-page-icon1.svg\" alt=\"\"><\/p>\n<div>The Board of Directors is in charge of the management of the CBL; consisting of the Governor as chairman, Deputy Governor as Vice-Chairman, and seven other members, who represent other financial and economic interests. The Governor is the chief executive officer responsible for the implementation of the CBL\u2019s policies and the management of its affairs; he also represents the CBL in all its associations with other parties.<\/div>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/History-page-icon-2.svg\" alt=\"\"><\/p>\n<div>\n<p>The city of Tripoli is the headquarters of the General Administration of the Central Bank of Libya, and the bank provides its services to banks and their branches throughout the country through its branches in Benghazi, Sirte, Sebha, and issuance departments in the city of Gharyan and Al-Bayda.<\/p>\n<\/div>\n<\/li>\n<\/ul>\n<div>\n<div>1956<\/div>\n<p>The CBL started its operations<\/p>\n<\/div>\n<div>\n<p>The CBL started its operations on April 1, 1956. Replacing the formerly established \u201cLibyan Currency committee\u201d, 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.<\/p>\n<\/div>\n<h2>The CBL\u2019s objectives:<\/h2>\n<ul>\n<li>\n<div> Issuance of Libyan banknotes and coins.\n<\/div>\n<\/li>\n<li>\n<div>The stability of currency in Libya.\n<\/div>\n<\/li>\n<li>\n<div> Management of Reserves and Control of Foreign Exchange.\n<\/div>\n<\/li>\n<li>\n<div>Regulating the quantity, quality and cost of credit to meet the requirements of economic growth and monetary stability.\n<\/div>\n<\/li>\n<li>\n<div>Taking appropriate measures to deal with foreign or local economic and financial problems.<\/div>\n<\/li>\n<li>\n<div> Lender of last resort.\n<\/div>\n<\/li>\n<li>\n<div>Supervising Commercial banks to ensure the soundness of their financial position and protecting the rights of depositors and shareholders.\n<\/div>\n<\/li>\n<li>\n<div>Acting as a banker and fiscal agent to the state and public entities.\n<\/div>\n<\/li>\n<li>\n<div>Managing and issuing all state loans.\n<\/div>\n<\/li>\n<\/ul>\n<h2>Objectives and Main Duties<br \/>\n<\/h2>\n<ul>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/currency-Issuance-and-regulation-icon.svg\" alt=\"currency Issuance and regulation icon\"><\/p>\n<h3>Issuance and regulation of Libyan currency<\/h3>\n<div>The national currency unit is the Libyan dinar, which is divided into 1,000 dirhams. Since 18 March 1986, the dinar has been pegged to the Special Drawing Rights (SDR) basket at a fixed rate. According to the latest adjustment on 6 April 2025, the exchange rate stands at 0.1349 SDR per one Libyan dinar. The Central Bank publishes the exchange rates of the Libyan dinar against foreign currencies based on movements of those currencies relative to the SDR. It is the legally authorized institution responsible for issuing the national currency, both banknotes and coins, which is typically backed by gold and convertible foreign currencies.<\/p>\n<\/div>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/08\/Management-of-Reserves-and-Control-of-Foreign-Exchanges.svg\" alt=\"currency Issuance and regulation icon\"><\/p>\n<h3>Management of Reserves and Control of Foreign Exchange<\/h3>\n<div>The Central Bank manages Libya\u2019s reserves of gold and foreign currencies and oversees foreign exchange operations. It selects appropriate investment instruments and determines the value to be invested in each currency, taking into account developments in exchange rates and financial markets to ensure the safety and profitability of these investments. The Bank also permits commercial banks to hold foreign assets in accordance with the regulations it issues from time to time.<\/div>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/08\/Acting-as-a-Banker-of-the-state.svg\" alt=\"\"><\/p>\n<h3>Acting as a Banker of the state<\/h3>\n<div>The CBL is the financial agent for the state and, as such, it keeps the accounts of revenues and expenditures for general secretariats. It also disburses transfers and collects funds, as well as it administers letters of credit transactions on behalf of its clients. These banking services are also offered to public institutions.<\/p>\n<p>On behalf of the government, the CBL administers the State\u2019s regional and international agreements, and it manages and executes payments and commitments between Libya and other countries.<\/p><\/div>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/08\/Regulating-of-Banking-Activities.svg\" alt=\"\"><\/p>\n<h3>Regulating of Banking Activities<\/h3>\n<div>The CBL examines and analyses the financial positions of Commercial banks and ensures that the Reserve Ratio is maintained. The CBL, thru its monetary and Macroprudential policies, affects the operations of the banking sector, to enhance its intermediary role, and to make more compatible with the occurring situation of the economy.<\/p>\n<p>The CBL inspects and examines the records of commercial banks and their branches to ensure accuracy and soundness in the sector. The CBL provides the Commercial banks with check clearing services as well as the services of a centralized credit risk office. It also has the responsibility of checking the suitability of the services that offered by the commercial banks.\n<\/p><\/div>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/08\/Monitoring-and-regulating-banking-activity.svg\" alt=\"\"><\/p>\n<h3>The CBL\u2019S Role in Economic Development<\/h3>\n<div>The role of the CBL in economic development in Libya is manifested directly in creating monetary and financial institutions capable of mobilizing and channeling savings for development projects. The CBL also contributes to strengthening the State financial position through its holdings of gold and foreign exchange.<\/p>\n<p>The CBL\u2019s indirect role in the economic development of Libya is embodied in its influence over the activities of commercial banks, especially by affecting the volume, direction and cost of credit thru its Monetary and Macro-prudential policies tools. The other aspect of the CBL\u2019s indirect role lies in the adoption of monetary policies capable of reinforcing internal and external confidence in the strength and stability of the Libyan currency and economy and, consequently, encouraging savings by citizens and promoting incentives for the utilization of these savings in productive and safe investment, as well as attracting foreign investments.<\/p><\/div>\n<\/li>\n<\/ul>\n<h2>Ex Governors<\/h2>\n<ul>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Saddek Omar ElKaber<\/h3>\n<p>2011\/11\/19<\/p>\n<p>2024\/09\/29<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Dr. Qasim Sharh Al-Bal Azouz<\/h3>\n<p>2011\/05\/16<\/p>\n<p>2011\/11\/19<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Mr. Farhat Omar Bengdara <\/h3>\n<p>2006\/03\/06 <\/p>\n<p>2011\/02\/17<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Dr. Ahmed Amnisi Abdel Hamid <\/h3>\n<p>2001\/03\/23<\/p>\n<p> 2006\/03\/05<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Dr. Al-Taher Al-Hadi Al-Juhaimi <\/h3>\n<p>1996\/02\/14<\/p>\n<p>2001\/03\/22<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Dr. Abdel Hafeez Mahmoud Al-Zalitni <\/h3>\n<p>1990\/10\/07<\/p>\n<p>1996\/02\/13<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Mr. Muhammad Al-Zarrouk Rajab <\/h3>\n<p>1987\/01\/04<\/p>\n<p>1990\/10\/06<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Mr. Rajab Abdullah Al-Masalati <\/h3>\n<p>1981\/01\/18<\/p>\n<p>1986\/03\/03<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Mr. Qasim Muhammad Sharlala <\/h3>\n<p>1969\/09\/20<\/p>\n<p>1981\/01\/17<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Mr. Khalil Ahmed Al-Banani<\/h3>\n<p>1961\/03\/27<\/p>\n<p>1969\/09\/01<\/p>\n<\/li>\n<li>\n<p>        <img decoding=\"async\" src=\"\/en\/wp-content\/uploads\/2022\/07\/person.svg\" alt=\"\"><\/p>\n<h3>Dr. Ali Nour al-Din al-Anezi<\/h3>\n<p>1955\/04\/26<\/p>\n<p>1961\/03\/26<\/p>\n<\/li>\n<\/ul>\n<p><!--more--><br \/>\n<!-- {\"type\":\"layout\",\"children\":[{\"type\":\"section\",\"props\":{\"class\":\"background-muted-bottom\",\"image_position\":\"center-center\",\"padding\":\"small\",\"padding_remove_bottom\":false,\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"\"},\"children\":[{\"type\":\"row\",\"props\":{\"column_gap\":\"collapse\",\"layout\":\"2-5,3-5\",\"row_gap\":\"collapse\",\"width\":\"default\"},\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\",\"width_medium\":\"auto\"},\"children\":[{\"type\":\"image\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/money.jpg\",\"image_alt\":\"money\",\"image_height\":\"500\",\"image_svg_color\":\"emphasis\",\"margin\":\"default\",\"visibility\":\"m\"}},{\"type\":\"overlay\",\"props\":{\"content\":\"\n\n<p><img width=\\\"542\\\" height=\\\"200\\\" class=\\\"el-image uk-background-primary\\\" alt=\\\"\\\" data-src=\\\"\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/cbl-logo-blue-background.svg\\\" uk-img=\\\"\\\" src=\\\"\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/cbl-logo-blue-background.svg\\\" \\\/><\\\/p>\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/money-libyan-dinars.jpg\",\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_style\":\"text-meta\",\"overlay_hover\":false,\"overlay_maxwidth\":\"large\",\"overlay_mode\":\"cover\",\"overlay_padding\":\"none\",\"overlay_position\":\"bottom-left\",\"overlay_style\":\"\",\"overlay_transition\":\"fade\",\"text_align\":\"center\",\"text_color\":\"light\",\"title_element\":\"h3\",\"title_hover_style\":\"reset\",\"visibility\":\"hidden-m\"}}]},{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\",\"width_medium\":\"expand\"},\"children\":[{\"type\":\"image\",\"props\":{\"animation\":\"parallax\",\"class\":\"cbl-logo-image\",\"image\":\"wp-content\\\/uploads\\\/sites\\\/4\\\/2022\\\/11\\\/cbl-logo-blue-background.svg\",\"image_height\":\"200\",\"image_svg_color\":\"emphasis\",\"image_width\":\"542\",\"margin\":\"\",\"margin_remove_bottom\":true,\"parallax_breakpoint\":\"m\",\"parallax_easing\":\"1\",\"parallax_x\":\"-97px,-97px\",\"parallax_y\":\"70px,70px\",\"visibility\":\"m\"},\"name\":\"\\u0645\\u0635\\u0631\\u0641 \\u0644\\u064a\\u0628\\u064a\\u0627 \\u0627\\u0644\\u0645\\u0631\\u0643\\u0632\\u064a\"},{\"type\":\"text\",\"props\":{\"animation\":\"parallax\",\"class\":\"uk-tile-muted uk-padding \",\"column_breakpoint\":\"m\",\"content\":\"The Central Bank of Libya is an independent financial institution wholly owned by the Libyan state and serves as the country\\u2019s monetary authority. Its mandate is defined by the law establishing the Central Bank and subsequent amendments, most recently the Banking Law No. (1) of 2005 as amended by Law No. (46) of 2012. The Bank\\u2019s objectives include maintaining monetary stability and supporting the growth of the national economy within the framework of the state\\u2019s overall policy.\",\"css\":\"\\n@media (max-width: 959px){\\n    .el-element{\\n        margin-right: -30px;\\n        margin-left: -30px;\\n        \\n    }\\n    \\n}\",\"margin\":\"remove-vertical\",\"parallax_breakpoint\":\"m\",\"parallax_easing\":\"1\",\"parallax_y\":\"70,70\",\"text_style\":\"lead\"}}]}]}]},{\"type\":\"section\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/cb-text-background.svg\",\"image_position\":\"top-center\",\"image_size\":\"contain\",\"padding_remove_top\":true,\"style\":\"muted\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"class\":\"column-default-card\",\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\",\"style\":\"tile-default\"},\"children\":[{\"type\":\"grid\",\"props\":{\"class\":\"featured-grid\",\"content_column_breakpoint\":\"m\",\"filter_align\":\"left\",\"filter_all\":true,\"filter_grid_breakpoint\":\"m\",\"filter_grid_width\":\"auto\",\"filter_position\":\"top\",\"filter_style\":\"tab\",\"grid_column_align\":false,\"grid_default\":\"1\",\"grid_medium\":\"\",\"grid_row_align\":false,\"icon_width\":80,\"image_align\":\"left\",\"image_box_decoration\":\"primary\",\"image_grid_breakpoint\":\"s\",\"image_grid_column_gap\":\"large\",\"image_grid_width\":\"auto\",\"image_svg_color\":\"emphasis\",\"image_vertical_align\":true,\"image_width\":\"40\",\"item_animation\":true,\"lightbox_bg_close\":true,\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_style\":\"text-meta\",\"parallax_easing\":\"1\",\"show_content\":true,\"show_hover_image\":true,\"show_hover_video\":true,\"show_image\":true,\"show_link\":true,\"show_meta\":true,\"show_title\":true,\"show_video\":true,\"text_align_breakpoint\":\"s\",\"title_align\":\"top\",\"title_element\":\"h3\",\"title_grid_breakpoint\":\"m\",\"title_grid_width\":\"1-2\",\"title_hover_style\":\"reset\"},\"children\":[{\"type\":\"grid_item\",\"props\":{\"content\":\"The Board of Directors is in charge of the management of the CBL; consisting of the Governor as chairman, Deputy Governor as Vice-Chairman, and seven other members, who represent other financial and economic interests. The Governor is the chief executive officer responsible for the implementation of the CBL\\u2019s policies and the management of its affairs; he also represents the CBL in all its associations with other parties.\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/history-page-icon1.svg\"}},{\"type\":\"grid_item\",\"props\":{\"content\":\"\n\n<p>The city of Tripoli is the headquarters of the General Administration of the Central Bank of Libya, and the bank provides its services to banks and their branches throughout the country through its branches in Benghazi, Sirte, Sebha, and issuance departments in the city of Gharyan and Al-Bayda.<\\\/p>\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/History-page-icon-2.svg\"}}]}]}]}]},{\"type\":\"section\",\"props\":{\"image_position\":\"center-center\",\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"props\":{\"column_gap\":\"small\",\"layout\":\"large,expand\",\"margin\":\"default\"},\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\",\"width_medium\":\"small\",\"width_small\":\"1-4\"},\"children\":[{\"type\":\"panel\",\"props\":{\"class\":\"uk-height-1-1\",\"content_column_breakpoint\":\"m\",\"icon_width\":80,\"image_align\":\"top\",\"image_grid_breakpoint\":\"m\",\"image_grid_width\":\"1-2\",\"image_svg_color\":\"emphasis\",\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta\":\"The CBL started its operations\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_margin\":\"small\",\"meta_style\":\"h6\",\"panel_padding\":\"small\",\"panel_style\":\"card-primary\",\"text_align\":\"left\",\"text_align_breakpoint\":\"s\",\"text_align_fallback\":\"center\",\"title\":\"1956\",\"title_align\":\"top\",\"title_element\":\"div\",\"title_grid_breakpoint\":\"m\",\"title_grid_width\":\"1-2\",\"title_hover_style\":\"reset\",\"title_style\":\"h1\"},\"name\":\"1956\"}]},{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"padding\":\"xsmall\",\"position_sticky_breakpoint\":\"m\",\"style\":\"tile-muted\",\"vertical_align\":\"middle\",\"width_medium\":\"expand\",\"width_small\":\"3-4\"},\"children\":[{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p>The CBL started its operations on April 1, 1956. Replacing the formerly established \\u201cLibyan Currency committee\\u201d, 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.<\\\/p>\",\"margin\":\"default\"},\"name\":\"The CBL started its operations ...\"}]}]},{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"The CBL\\u2019s objectives:\",\"margin_remove_bottom\":false,\"title_element\":\"h2\",\"title_style\":\"text-lead\"},\"name\":\"The CBL\\u2019s objectives:\"},{\"type\":\"list\",\"props\":{\"column\":\"1-2\",\"column_breakpoint\":\"m\",\"image_align\":\"left\",\"image_svg_color\":\"emphasis\",\"image_vertical_align\":true,\"list_element\":\"ul\",\"list_horizontal_separator\":\", \",\"list_marker\":\"disc\",\"list_marker_color\":\"primary\",\"list_size\":\"large\",\"list_type\":\"vertical\",\"margin\":\"medium\",\"margin_remove_top\":true,\"show_image\":false,\"show_link\":true},\"children\":[{\"type\":\"list_item\",\"props\":{\"content\":\" Issuance of Libyan banknotes and coins.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"The stability of currency in Libya.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\" Management of Reserves and Control of Foreign Exchange.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"Regulating the quantity, quality and cost of credit to meet the requirements of economic growth and monetary stability.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"Taking appropriate measures to deal with foreign or local economic and financial problems.\"}},{\"type\":\"list_item\",\"props\":{\"content\":\" Lender of last resort.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"Supervising Commercial banks to ensure the soundness of their financial position and protecting the rights of depositors and shareholders.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"Acting as a banker and fiscal agent to the state and public entities.\\n\"}},{\"type\":\"list_item\",\"props\":{\"content\":\"Managing and issuing all state loans.\\n\"}}]}]}],\"props\":{\"margin\":\"medium\"}}]},{\"type\":\"section\",\"props\":{\"image_position\":\"center-center\",\"padding_remove_top\":true,\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"Objectives and Main Duties\\n\",\"margin\":\"large\",\"title_color\":\"emphasis\",\"title_decoration\":\"bullet\",\"title_element\":\"h2\",\"title_style\":\"h2\"},\"name\":\"\\u0623\\u0647\\u0645 \\u0648\\u0638\\u0627\\u0626\\u0641 \\u0645\\u0635\\u0631\\u0641 \\u0644\\u064a\\u0628\\u064a\\u0627 \\u0627\\u0644\\u0645\\u0631\\u0643\\u0632\\u064a\"},{\"type\":\"switcher\",\"props\":{\"attributes\":\"uk-height-match=\\\"target:.el-nav li>a\\\"\",\"class\":\"responsive-switcher featured-switcher\",\"content_column_breakpoint\":\"m\",\"content_margin\":\"remove\",\"image_align\":\"left\",\"image_grid_breakpoint\":\"m\",\"image_grid_width\":\"medium\",\"image_svg_color\":\"emphasis\",\"image_vertical_align\":true,\"image_width\":\"60\",\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_style\":\"meta\",\"nav\":\"subnav-pill\",\"nav_align\":\"center\",\"nav_grid_breakpoint\":\"m\",\"nav_grid_width\":\"auto\",\"nav_position\":\"top\",\"nav_vertical_align\":false,\"show_content\":true,\"show_image\":true,\"show_label\":false,\"show_link\":false,\"show_meta\":false,\"show_thumbnail\":false,\"show_title\":true,\"switcher_animation\":\"fade\",\"switcher_height\":false,\"text_align\":\"left\",\"thumbnav_height\":\"75\",\"thumbnav_svg_color\":\"emphasis\",\"thumbnav_width\":\"100\",\"title_align\":\"left\",\"title_element\":\"h3\",\"title_grid_breakpoint\":\"m\",\"title_grid_width\":\"auto\"},\"children\":[{\"type\":\"switcher_item\",\"props\":{\"content\":\"The national currency unit is the Libyan dinar, which is divided into 1,000 dirhams. Since 18 March 1986, the dinar has been pegged to the Special Drawing Rights (SDR) basket at a fixed rate. According to the latest adjustment on 6 April 2025, the exchange rate stands at 0.1349 SDR per one Libyan dinar. The Central Bank publishes the exchange rates of the Libyan dinar against foreign currencies based on movements of those currencies relative to the SDR. It is the legally authorized institution responsible for issuing the national currency, both banknotes and coins, which is typically backed by gold and convertible foreign currencies.\\n\\n\\n\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/currency-Issuance-and-regulation-icon.svg\",\"image_alt\":\"currency Issuance and regulation icon\",\"thumbnail\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/currency-Issuance-and-regulation-icon.svg\",\"title\":\"Issuance and regulation of Libyan currency\"}},{\"type\":\"switcher_item\",\"props\":{\"content\":\"The Central Bank manages Libya\\u2019s reserves of gold and foreign currencies and oversees foreign exchange operations. It selects appropriate investment instruments and determines the value to be invested in each currency, taking into account developments in exchange rates and financial markets to ensure the safety and profitability of these investments. The Bank also permits commercial banks to hold foreign assets in accordance with the regulations it issues from time to time.\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/08\\\/Management-of-Reserves-and-Control-of-Foreign-Exchanges.svg\",\"image_alt\":\"currency Issuance and regulation icon\",\"thumbnail\":\"\",\"title\":\"Management of Reserves and Control of Foreign Exchange\"}},{\"type\":\"switcher_item\",\"props\":{\"content\":\"The CBL is the financial agent for the state and, as such, it keeps the accounts of revenues and expenditures for general secretariats. It also disburses transfers and collects funds, as well as it administers letters of credit transactions on behalf of its clients. These banking services are also offered to public institutions.\\n\\nOn behalf of the government, the CBL administers the State\\u2019s regional and international agreements, and it manages and executes payments and commitments between Libya and other countries.\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/08\\\/Acting-as-a-Banker-of-the-state.svg\",\"title\":\"Acting as a Banker of the state\"}},{\"type\":\"switcher_item\",\"props\":{\"content\":\"The CBL examines and analyses the financial positions of Commercial banks and ensures that the Reserve Ratio is maintained. The CBL, thru its monetary and Macroprudential policies, affects the operations of the banking sector, to enhance its intermediary role, and to make more compatible with the occurring situation of the economy.\\n\\nThe CBL inspects and examines the records of commercial banks and their branches to ensure accuracy and soundness in the sector. The CBL provides the Commercial banks with check clearing services as well as the services of a centralized credit risk office. It also has the responsibility of checking the suitability of the services that offered by the commercial banks.\\n\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/08\\\/Regulating-of-Banking-Activities.svg\",\"title\":\"Regulating of Banking Activities\"}},{\"type\":\"switcher_item\",\"props\":{\"content\":\"The role of the CBL in economic development in Libya is manifested directly in creating monetary and financial institutions capable of mobilizing and channeling savings for development projects. The CBL also contributes to strengthening the State financial position through its holdings of gold and foreign exchange.\\n\\nThe CBL\\u2019s indirect role in the economic development of Libya is embodied in its influence over the activities of commercial banks, especially by affecting the volume, direction and cost of credit thru its Monetary and Macro-prudential policies tools. The other aspect of the CBL\\u2019s indirect role lies in the adoption of monetary policies capable of reinforcing internal and external confidence in the strength and stability of the Libyan currency and economy and, consequently, encouraging savings by citizens and promoting incentives for the utilization of these savings in productive and safe investment, as well as attracting foreign investments.\",\"image\":\"wp-content\\\/uploads\\\/2022\\\/08\\\/Monitoring-and-regulating-banking-activity.svg\",\"title\":\"The CBL\\u2019S Role in Economic Development\"}}],\"name\":\"switcher\"}]}]}]},{\"type\":\"section\",\"props\":{\"class\":\"uk-background-gradient\",\"image_position\":\"center-center\",\"padding_remove_top\":true,\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"Ex Governors\",\"margin\":\"large\",\"title_color\":\"emphasis\",\"title_decoration\":\"bullet\",\"title_element\":\"h2\",\"title_style\":\"h2\"},\"name\":\"\\u0627\\u0644\\u0645\\u062d\\u0627\\u0641\\u0638\\u0648\\u0646 \\u0627\\u0644\\u0633\\u0627\\u0628\\u0642\\u0648\\u0646\"},{\"type\":\"ls-grid\",\"props\":{\"class\":\"governors-grid\",\"content_column_breakpoint\":\"m\",\"content_margin\":\"remove\",\"filter_align\":\"left\",\"filter_all\":true,\"filter_grid_breakpoint\":\"m\",\"filter_grid_width\":\"auto\",\"filter_position\":\"top\",\"filter_style\":\"tab\",\"grid_column_gap\":\"small\",\"grid_default\":\"1\",\"grid_medium\":\"2\",\"grid_row_gap\":\"small\",\"icon_width\":\"\",\"image_align\":\"left\",\"image_grid_breakpoint\":\"s\",\"image_grid_column_gap\":\"medium\",\"image_grid_row_gap\":\"small\",\"image_grid_width\":\"auto\",\"image_svg_color\":\"emphasis\",\"image_vertical_align\":false,\"item_animation\":true,\"link_style\":\"default\",\"link_text\":\"Read more\",\"margin\":\"default\",\"meta_align\":\"below-title\",\"meta_element\":\"div\",\"meta_margin\":\"small\",\"meta_style\":\"\",\"panel_size\":\"small\",\"parallax_easing\":\"1\",\"show_content\":true,\"show_image\":true,\"show_link\":true,\"show_meta\":true,\"show_text1\":true,\"show_title\":true,\"text1_align\":\"below-title\",\"text1_element\":\"div\",\"text1_margin\":\"small\",\"text1_style\":\"\",\"text_align\":\"left\",\"text_align_breakpoint\":\"s\",\"text_align_fallback\":\"center\",\"title_align\":\"top\",\"title_color\":\"emphasis\",\"title_element\":\"h3\",\"title_grid_breakpoint\":\"m\",\"title_grid_width\":\"1-2\",\"title_hover_style\":\"reset\",\"title_margin\":\"small\",\"title_style\":\"h3\"},\"children\":[{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"2011\\\/11\\\/19\",\"text1\":\"2024\\\/09\\\/29\",\"title\":\"Saddek Omar ElKaber\"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"2011\\\/05\\\/16\",\"text1\":\"2011\\\/11\\\/19\",\"title\":\"Dr. Qasim Sharh Al-Bal Azouz\"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"2006\\\/03\\\/06 \",\"text1\":\"2011\\\/02\\\/17\",\"title\":\"Mr. Farhat Omar Bengdara \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"2001\\\/03\\\/23\",\"text1\":\" 2006\\\/03\\\/05\",\"title\":\"Dr. Ahmed Amnisi Abdel Hamid \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1996\\\/02\\\/14\",\"text1\":\"2001\\\/03\\\/22\",\"title\":\"Dr. Al-Taher Al-Hadi Al-Juhaimi \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1990\\\/10\\\/07\",\"text1\":\"1996\\\/02\\\/13\",\"title\":\"Dr. Abdel Hafeez Mahmoud Al-Zalitni \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1987\\\/01\\\/04\",\"text1\":\"1990\\\/10\\\/06\",\"title\":\"Mr. Muhammad Al-Zarrouk Rajab \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1981\\\/01\\\/18\",\"text1\":\"1986\\\/03\\\/03\",\"title\":\"Mr. Rajab Abdullah Al-Masalati \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1969\\\/09\\\/20\",\"text1\":\"1981\\\/01\\\/17\",\"title\":\"Mr. Qasim Muhammad Sharlala \"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1961\\\/03\\\/27\",\"text1\":\"1969\\\/09\\\/01\",\"title\":\"Mr. Khalil Ahmed Al-Banani\"}},{\"type\":\"ls-grid_item\",\"props\":{\"image\":\"wp-content\\\/uploads\\\/2022\\\/07\\\/person.svg\",\"meta\":\"1955\\\/04\\\/26\",\"text1\":\"1961\\\/03\\\/26\",\"title\":\"Dr. Ali Nour al-Din al-Anezi\"}}]}]}]}]}],\"version\":\"4.5.5\"} --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Libya is an independent financial institution wholly owned by the Libyan state and serves as the country\u2019s monetary authority. Its mandate is defined by the law establishing the Central Bank and subsequent amendments, most recently the Banking Law No. (1) of 2005 as amended by Law No. (46) of 2012. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15027,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-865","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/pages\/865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/comments?post=865"}],"version-history":[{"count":173,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/pages\/865\/revisions"}],"predecessor-version":[{"id":67287,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/pages\/865\/revisions\/67287"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media\/15027"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media?parent=865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}