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Author: LS

The British Ministry of Foreign Affairs issued its updated sanctions list against individuals and characters in Libya

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The British Ministry of Foreign Affairs issued an updated list of people and Libyan entities contained in the list of economic sanctions, because of human rights violations and speeches of war crimes and escape from justice.

The sanctions included a group of assets against a number of characters, headed by Quren Salah Quren Al-Qadhafi, former Libya ambassador to Chad, because of his involvement in activities implemented on behalf of the former regime and its participation in the purchase and army of foreign mercenaries, as well as misleading information in Libya threatens the United Nations-led political process and the United Nations Mission in Libya and undermines the transition to a democratic, peaceful and independent state.

Sanctions included also Mohammed Al-Kani and his brother Abdurahim, involved in violations of serious human rights and international humanitarian law and responsible for forced disappearances, torture and murder.

The list also included 44 names, as HusseinAl-Kouni, former Governor of Ghat and former Ambassador to Niger, Safia Farkash, the wife of Al-Qadhafi and resident in Amman and Ibrahim Zaroug, the Minister of Social Affairs in the Government of Al-Qadhafi. 

The list included the names of a number of entities including Al-Inma Holding Construction and Real Estate Development, Al-Inma Holding Company for Industrial Investments, Al-Kinayat and Ashton Global Investments Limited, and 18 other companies.

Adapted from Office of Financial Sanctions Implementation Website

The Minister of Economy issues a decree on setting animal feed prices

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The Minister of Economy and Trade Mohammad Al-Huwaij on Thursday issued decree No.30 of 2022, about setting the price of a commodity, according to which he specified a total of 50% as supported by the Government for animal feed prices, in implementation of the National Unity Government decree No.569 for the year 2021 on the allocation of a seven hundred and five million dinars in favor of the National Company for Flour Mills and Feed for the aim of supplying animal feed to support breeders and and maintain animal wealth.

The price of the feed contract for bulk barley should be 180 dinars per one quintal, for the barley in bags 190 dinars per one quintal and for the feed Protein 12.5 (burnt barley), 195 dinars per one quintal.

This was according to Libyan standard specifications, and these prices will be applied for three months, which is from 20 January to 20 April 2022.

Also the selling price for barley in bags will be 95 dinars per one quintal and for the feed Protein 12.5 (burnt barley), 97.5 dinars per one quintal.

The provisions of municipalities have to be in favor of breeders in accordance with the decision of the Prime Minister No. 447 of 2021 on the formation of the Central Feed Distribution Committee.

Adapted from Sada Website

Al-Akkari: The exchange rate is not in line with the current economic situation

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The economic and banking expert Mesbah Al-Akkari said that the current exchange rate which is 4.5 dinars per dollar, cannot be in line with the current situation of high oil prices and increase the production capacity of Libyan oil fields.

Al-Akkari explained that the rise in oil prices, the overcoming the barrier of $ 88 a barrel, the possibility of increasing production capacity for Libyan oil fields and the return of some unlocked fields for a while, all of these are not in line with the current exchange rate of the dollar.

He added that we should move away from selfishness, forget our disagreements for the sake of our country, unite our institutions under these encouraging conditions and harmonize the three “monetary, trade and financial” policies.

Our source: Al-Kabir and Al-Habri will hold a meeting on Thursday in the Tunisian capital

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An official at the Central Bank of Libya said to our source that the Governor of the Central Bank Al-Siddiq Al-Kabir will be holding a meeting today, with his deputy Ali Al-Habri in the Tunisian Capital.

They had met on December 6, in Tunisia in the presence of officials from the International Services Company “Deloitte” and agreed on the unification operation of the Central Bank, stressing their commitment to continue progress to achieve their desired goals.

The governor and his deputy also met with the UN General Secretary Stephanie Williams and heads of the Economic Working Group in mid-December via video technology and briefed the progress towards pushing the reunification process through the help of Deloitte.

Our source: The referral of the children allowance of the past three months, today to banks

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An official at the Central Bank of Libya on Thursday confirmed to our source about the referral of the children allowance of October, November and December to commercial banks today to complete its disbursement.

The prime minister has issued instructions for the Ministry of Social Affairs to pay the allowance for the past three months, with an explanation about why they are delayed on time.

A special meeting for the implementation of Cabinet Decree N° 270 regarding the mechanism for decision implementation

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The Undersecretary of the Planning Ministry for Technical and Budgetary Affairs, Muhammad Al-Zaydani, held a meeting with the Undersecretary of the Ministry for its affairs of the office, the Ministry’s advisors, the Director of the Budget and Follow-up Department, and a number of heads of departments in the Budget Department.

The meeting dealt with a review of Cabinet Decree N° 270 regarding the allocation of a sum of money from Chapter Three of Development with a value of 600 million dinars, to complete the implementation of projects by the interim government and related to setting up a mechanism for the implementation of exchange orders.

During the meeting, the bases and limitations contained in the Ministry of Planning Circular N°4 of 2021, regarding the completion of the implementation of projects by the interim government, and compliance with the circular.

In addition to the reason for the delay in providing with the projects of the Interim Government in the relevant sectors, especially those referred from the Office of the Prime Minister in the Eastern Province.

It was also agreed to limit the projects included in the submitted statements of commitments and their conformity with development programs in coordination with the relevant sectors. At the end of the meeting, a date was set for the next meeting to be on Sunday 01/23/2022

Adapted from the Planning Ministy official Facebook page

Libyan Wings Airways denies its bankruptcy

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Libyan Wings Airways Company published a statement on its official facebook page, to deny the circulating news about stopping all of its flights with financial problems in the company’s management.

The company said that the flights are continuing and that all the reservations are valid, stressing that it will take legal measures against those who promoted the news of its bankruptcy.

Adapted from Libyan Wings Airways official Facebook page

Williams: The assembly of representatives have to focus on the electoral process

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UN General Secretary Stephanie Williams said that the assembly of representatives headed by Aqila Saleh, have to focus on the electoral process instead of adopting the subject of changing government.

She said on Tuesday For the Russian Spotnik Agency that the Libyan people need to be able to go to the ballot boxes and choose a full representative and democratic government with full sovereignty and help in consolidating institutions.

“The powers of the Libyan parliament include changing the current government, but specific terms and a particular legal pattern,” she said, adding that it encouraged the Libyan parliament to focus more on the electoral process instead of building the formation of another temporary transitional government.

The Central Bank issues instructions regarding financing formulas for individuals and for various economic activities

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The Central Bank of Libya, Tripoli, instructed the heads and members of the directors boards of commercial banks regarding financing formulas for individuals and for various economic activities.

Whereas, all banks are required to update their current policy with regard to financing, investment and risks, provided that it includes all the formulas targeted to be activated by the bank, and a copy of it is referred to the Banking and Monetary Control Department, no later than February 28, 2022, so the financing and investment policy must be from the legitimate supervisory board of the bank’s management, and approved by it.

Also, the financing and investment policy should take into account some criteria, including defining the powers and responsibilities of the financing decision-makers, diversifying Islamic financing methods, in line with the objectives and policy of the bank, and including the mechanism for receiving funds as specified by the banking standard issued by the Central Legitimate Supervisory Board No. (12) Concerning the absolute joint investment accounts, in which the controls of each financing or investment formula that are implemented, the funding ceilings, powers, deadlines, work mechanisms, and legitimate and technical controls are determined, including the distribution of the portfolio to all the formulas approved by the bank, with the need to link it to the priorities of economic development, so that it targets everyone in financing. (individuals, companies), and it contributes to the financing of the various sectors, provided that it allocates a percentage of (10%) of these financings.

In conclusion, it called for limiting lending to related parties, such as partners, shareholders, general managers, executives, and others, and working to deal with the bank’s previous responsibilities and comments and to enhance debt collection methods to ensure the recovery of all the bank’s rights.

Taken from Sada Website

Algeria is in contact with Libya to continue the electricity generation deal

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The General Manager of Sonelgas, Mr. Murad Ajal, held a meeting, on Monday, via visual lecture technology with the Chairman of the Directors Board of the General Electricity Company of Libya (GECOL), the engineer Wiam Al-Abdali, within the framework of a familiarization meeting between the two parties.

During the meeting, the two parties discussed enhancing bilateral cooperation between the two companies by completing what has been accomplished, and efforts to give a new dimension to the partnership between the two parties, by moving to the operational stage in order to achieve the goals set out in the understanding memorandum signed between the two parties and enriching them within a long-term work plan.

Adapted from Sonelgaz official Facebook page