The Central Bank of Libya (CBL) has distributed 98 billion Libyan dinars (about $22 billion) to local commercial banks across Libya since the beginning of this year, the bank announced Tuesday. The measure is part of the CBL’s strategy to inject liquidity into bank branches nationwide, according to a CBL statement published on its Facebook page detailing the bank’s expenditures and revenues from January 1 to November 30. Over that period, the CBL processed nearly 2.2 million electronic payments worth 64 billion dinars via 648 bank branches and clearing houses in cities and towns across Libya, the statement revealed. The CBL has also been expanding usage of electronic banking and payments in Libya. As of the end of November, there were nearly 140,000 registered e-wallets in circulation, which have processed 34 million dinars in transactions.

Source: Libya Today December 05, 2023 19:16 UTC