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Libyan Newswire

The Presidency Council issues decision on putting emergency financial arrangements.

The Presidency Council issues decision on putting emergency financial arrangements.Wednsday , 20-07-2016 – 16:23:00

Tripoli, 20.07.2016(Lana) The Presidency Council issued decision No 72/2016 on putting emergency and temporary financial arrangements. Article one of the resolution provides for the allocation of 1.5 billion Libyan Dinars to be dispensed according to the approved items. The resolution provides that the Central Bank of Libya shall deposits the funds in three installments in an emergency account, or at the request of the Presidency Council and the first installment shall be deposited immediately that is upon the resolutions’ issuance. Priorities and beneficiaries from the fund shall be identified through resolutions by the presidency council provided that the beneficiary, the amount and item are spelled out in such resolutions. The resolution also instructs Ministry of Finance to immediately release the funds into the bank accounts of the beneficiaries upon the relevant Presidency Council resolutions. =Lana=

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