The Central Bank of Libya announced on Tuesday that its new foreign currency reservation platform has booked a total of 1,887 letters of credit, with a cumulative value estimated at $1.6 billion USD.
In its official statement, the bank noted that the initiative is part of its “ongoing efforts to facilitate access to foreign currency and enhance transparency in import operations for all categories of traders.”
The Central Bank of Libya confirmed that it began referring all registered applications to commercial banks on Tuesday for acceptance, processing, and approval.
As of today, Wednesday, the platform is scheduled to be directly linked with commercial banks, a move intended to “enable immediate processing of applications.”