Central Bank of Libya
|The CBL (Central
Bank of Libya) is the monetary authority in Libya. The objectives of CBL
are to maintain monetary stability in the country, and to promote the growth
of the economy according to the economic policy of the Gouvernment. The Central Bank of Libya
is in charge to issue the Libyan currency: the dinar.
The operations of Central Bank of Libya started on April 1, 1956 replacing the Libyan Currency committee. In 1972, the Libyan Arab Foreign Bank was established, fully controlled by CBL, to support overseas investment and the Libyan Investment Authority. The headquarter of CBL is in Tripoli with branches located in Sebha, Benghazi, and Sirte.
The bank is structured on a Governor, a Deputy Governor, and a Governing Council. The general affairs are managed by the Board of Directors composed of the Governor as chairman, the Deputy Governor, and Six other members.
Main functions of Central Bank of Libya are issuing and regulating currency, managing reserves of gold and foreign currencies, regulating the credit according the requirements of monetary stability and economic growth, managing state loans.
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