Saturday, 19/9/2020 | 11:56 UTC+0
Libyan Newswire

Mayor of Ghiryan and directors of commercial banks discuss cash crisis.

Ghiryan, Mayor of Ghiryan has discussed with directors of commercial banks in the city, the issue of acute cash shortages at the banks barring the citizens from obtaining their savings. The managers of the banks underlined that cash delivered to the banks in Ghiryan is not enough at all, as the number of bank accounts are not taken into consideration when delivering cash to the banks. They also said delays in salary payments, and making such payments in one time exacerbates the problem. On the reasons behind the presence of large amounts of money outside the banking system, they attributed the issue to security in the country, blackmail and robbery in some area by kidnapping business people to blackmail them for the payment of ransom. This forced business people to shun away from the banking system for their own safety and that of members of their families, they explained. The meeting concluded the need to activate the Issuance department of the Central Bank of Libya in Ghiryan to play its role in providing enough cash to the banks, and coordinate with the Ministry of Finance and public sectors to pay salaries on time especially during religious and social occasions such as Holy month of Ramadan and Eid.

Source: Libyan News Agency