Tripoli – Libyan citizens have expressed their dissatisfaction with the complicated procedures followed by Libyan banks, especially concerning ATM withdrawals, and the imposition of fees they considered “exorbitant,” tantamount to a clear looting of their salaries, according to a report published by the Libyan News Agency “LANA”.
Citizens said they are forced to wait for hours in long queues to withdraw 1,000 dinars in three installments from ATMs, with a fee of 5 dinars imposed on each transaction. This brings the total monthly deduction to 15 dinars for a service that was previously provided in a single transaction.
Citizen Abdel Salam Dakhil described these fees as “exorbitant,” which he explained means unjustified exploitation amounting to legalized looting, questioning why the technical procedures are being complicated instead of simplified.
Other citizens affirmed that these practices reflect a failure to modernize the banking system and a lack of effective oversight, amidst a worsening liquidity crisis and delays in developing the banks’ technological infrastructure, despite the implementation of modern electronic systems.
Meanwhile, according to “LANA”, a number of bank officials in Tripoli refused to comment on the reasons for changing the withdrawal system from a single transaction to three, merely stating that they are “not concerned with technical matters.”
The banking sector in Libya suffers from chronic crises, most notably a lack of liquidity, weak technological infrastructure, and a lack of transparency, amid increasing complaints from citizens about poor banking services and the deterioration of daily transactions.