Libya’s Central Bank puts in place provision of over $3 billion to resolve liquidity crisis

Libya’s Central Bank (CBL) has announced an allocation of some $3 billion to all operational banks in the coming months. The initiative comes after a meeting held last week by CBL Governor Naji Issa with general managers from Libya’s major banks. The issues discussed included the urgent need to resolve the liquidity crisis, which has been restricting banks from being able to meet customer demands and support economic growth. As a result, the CBL suggested enhancing electronic payment services, which would create a more efficient banking environment, while allowing for more timely transactions.