Our source from the Banking and Monetary Supervision Department at the Central Bank of Libya revealed that the administration’s report stated that the number of companies and factories from the private sector whose requests to purchase foreign exchange were accepted reached 806 companies. These requests were approved to obtain foreign exchange to cover documentary credits and other transfers, distributed among 769 companies and 37 factories, during the period from 1-1 until 28-2-2023.
The Banking Supervision Administration explained that the banks’ requests to purchase foreign exchange from the private sector accounted for 13.1% of the total purchase requests during the period, ranking first in terms of importing production and operation supplies. Meanwhile, requests to cover the import of materials for the industry’s supplies ranked second in relative importance, representing about 5.4%.
The Banking and Monetary Supervision Department added that requests to cover the import of hard wheat and iron accounted for 4.0% of the total.