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Central Banks
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Central Bank of Libya |
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Central Bank of Libya
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The Central
Bank of Libya (CBL, Arabic: مصرف ليبيا المركزي) is fully state ownership and represents the monetary
authority in The Great Socialist People’s Libyan Arab Jamahiriya. |
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CBL enjoys
the status of autonomous corporate body and the law establishing the CBL
stipulates that the objectives of the Central Bank shall be to maintain
monetary stability in Libya, and to promote the sustained growth of the
economy in accordance with the general economic policy of the state. The CBL
is the sole issuer of Libyan currency (banknotes and coins).
Management of
the general affairs of the Bank within the policies of the country is
entrusted to a Board of Directors consisting of the Governor as chairman,
Deputy Governor as Vice-Chairman, and Six other members, who usually
represent other financial and economic interests. The Governor is the chief
executive officer responsible for the implementation of the policy of the
Bank and the management of its affairs; he also represents the Bank in all
its relations with other parties. |
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The functions of the CBL have grown since its establishment, and now include
the following :
1. Issuing and regulating banknotes and coins in Libya.
2. Maintaining and stabilizing the Libyan currency internal and external.
3. Maintaining and managing the official reserves of gold and foreign
exchange.
4. Regulating the quantity, quality and cost of credit to meet the
requirements of economic growth and monetary ability.
5. Taking appropriate measures to deal with foreign or local economic and
financial problems.
6. Acting as a banker to the Commercial banks.
7. Supervising Commercial banks to ensure the soundness of their financial
position and protection of the rights of depositors and shareholders.
8. Acting as a banker and fiscal agent to the state and public entities.
9. Advising the state on the formulation and implementation of financial
and economic policy.
10. Supervising foreign exchange.
11. Managing and issuing all state loans.
12. Carrying out any other functions or transactions normally performed by
central banks, as well as any tasks charged to it under the Law of banking
and currency and credit or any international convention to which the state
is a party.
Therefore, the Central Bank was expected to play an important role in
achieving these functions, not only indirectly by maintaining monetary
stability, but also directly by promoting the development and expansion of
the financial system and directing credit to areas with the greatest
development potential.
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Central Bank of Libya |
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HQ
Address: |
Central
Bank of Libya Building
Al Fatah Street
Tarabulus
Tripoli
Libya |
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Tel: |
+218 21 333 3591 |
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Fax: |
+218 21
444 1488 |
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Website: |
www.cbl.gov.ly |
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Swift Code: |
CBLJLYLY |
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Currency: |
Libyan
dinar |
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Banking Hours: |
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Saturday - Thursday : 8.00am -
4.00pm |
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The head office of the Central Bank is in Tripoli. However, to make the CBL
services more accessible to commercial banks branches and public departments
located far from the head office, the CBL has three branches located in
Benghazi, Sebha and Sirte.
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List of banks in Libya
governed by the Central Bank of Libya |
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Bank Name |
Telephone |
Fax |
Website |
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Gumhouria Bank |
(041) 631960-61 |
(021) 3610594 |
www.gumhouria-bank.com |
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National Commercial Bank |
(021) 3612429 |
(021) 446705 |
www.ncb.ly |
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Sahara Bank |
(021) 3332771 |
(021) 3337922 |
www.saharabank.com.ly |
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AL Umma Bank |
(021) 3332888 |
(021) 3332505 |
www.umma-bank.com |
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Wahda Bank |
(061) 24519 |
(061) 2224122 |
www.wahdabank.com |
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Commerce & Development Bank |
(061) 2229630 |
(061) 9097115 |
www.bankofcd.com |
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Aman Bank For commerce &
Investment |
(021) 3350216 |
(021) 3350386 |
N/A |
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Al-Wafa Bank |
(021) 4815124 |
(061) 4815123 |
www.alwafabank.com |
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Alejmaa Alarabi Bank |
(061) 9090128 |
(061) 9099706 |
www.alejmaa.com |
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Mediterranean Bank |
(061) 9098386 |
(061) 9099564 |
www.meditbank.net |
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National Banking Corporation |
(021) 4448623 |
(021) 3330896 |
N/A |
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Saving and Real-Estate
Investment Bank |
(021) 4449306 |
(021) 4449309 |
www.eddekharbank.com |
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Agricultural Bank |
(021) 333541 |
(021) 3333545 |
N/A |
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Development Bank |
(021) 4446622 |
(021) 4802048 |
N/A |
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Libyan Foreign Bank |
(021) 3350155 |
(021) 3350165 |
www.lafbank.com |
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Alsaraya Trading And Devolpment
Bank |
(021) 4447692 |
N/A |
N/A |
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