Salvation Government orders CBL to collect certain money notes

Salvation Government orders CBL to collect certain money notes

March 23, 2016 - 18:07
Posted in:
Written By: AbdulkaderAssad

The Salvation Government has ordered the Central Bank of Libya, being responsible for implementing the monetary policies, to collect certain money notes as part of the SG’s attempts to find out quick solutions for the current lack of cash across the country.

The SG told the CBL, in a statement, to collect (LYD50 and LYD20) notes from the market and replace them with (LYD5 and LYD10) notes as well as the (LYD5 and LYD10) notes that were issued by the former regime and have the old name of the Libyan state on them, explaining that dealing with coins must be effected on a larger scale in the market.

On the other hand, the Salvation Government told the CBL it must activate the electronic transactions and bank clearing to boost dealing with checks instead of hard cash.