Libya Prints 30 Billion New Dinars to Replace Old Currency

The Central Bank of Libya announced that it has contracted to print 30 billion dinars to inject into the banking sector and replace the old currency, which will be withdrawn smoothly, according to a previously included timetable.

According to Al-Wasat TV, the Governor of the Central Bank of Libya, Naji Issa, held successive meetings with the directors of the relevant departments in the bank, the liquidity team, and the general managers of banks suffering from a lack of liquidity in their branches, in order to stand on the Central Bank's plan to solve the problem of cash shortages.

During the meeting, Issa directed the need to manage the cash liquidity file "in line with the plan approved by the Board of Directors, which includes solving this problem gradually and radically starting from January 2025, stressing the need to improve and develop the banks' infrastructure in a way that achieves the expansion of electronic payment services according to the prepared plan.