Tripoli: A source at the Central Bank reveals that the bank will soon begin disbursing dollars to beneficiaries for personal purposes, up to a value of $2,000 in cash. A source at the Central Bank of Libya revealed that it will begin disbursing an initial sum of $2,000 to beneficiaries of the personal assistance program in cash through banks or exchange companies and offices.
According to Libyan News Agency, the source explained in press statements carried by various media outlets that this measure came after continuous efforts by the bank's governor and the confidence of the international community, which enabled the Central Bank to obtain approval from international bodies to supply $600 million monthly in cash. The Federal Reserve and the US Treasury approved the transfer of the funds after a 15-year delay, confirming that the reason for this delay was due to the Sirte incident in 2013, when armed men attacked a cash transport truck at a bank branch and stole more than 53 million dinars and $12 million, in the largest robbery recorded in the country.
The source indicated that the Central Bank announced the readiness of the foreign exchange system and its commencement of operations on Monday. The source confirmed that foreign currency sales fees reached 23.2 billion dinars in 2025, while the foreign currency deficit amounted to approximately $9 billion during the same year. The source also revealed that there have been approximately 50 robberies of Libyan bank branches since October 2013, according to bank data.
The source noted that those wishing to obtain foreign currency for purposes other than personal use can purchase it directly from exchange companies and offices, with an annual limit ranging between $8,000 and $10,000. The source indicated that these companies will be able to conduct SWIFT transfers for small traders from their foreign currency accounts held at the Central Bank or from currency purchases from individuals, companies, and non-residents.
The source emphasized that the practice of currency exchange is subject to strict regulations to prevent money laundering and the financing of terrorism, and that any violation may lead to the revocation of the company's licenses and its closure in cooperation with the relevant authorities.