2024-04-02 03:16:31
The Central Bank of Libya called on directors of commercial banks to activate all services related to purchasing foreign currency for the purpose of study and treatment abroad and issuing cards (Visa – MasterCard) to companies, small merchants, and craftsmen, in accordance with the bank’s controls.
The bank stated in a letter from the director and cash manager that several complaints had been received about the banks not activating the aforementioned services.
On March 19, the Central Bank of Libya referred the decision of the Speaker of the House of Representatives, Aguila Saleh, to impose a 27% tax on the selling price of foreign exchange to commercial banks, demanding that it begin implementing it.
In a letter addressed to commercial banks, the Central Bank requested facilitating procedures for dealing in foreign exchange, including opening documentary credits for all purposes and all goods and services.
The Central Bank alerted bank managers to the need for the customer to submit a declaration pledging his agreement to accept the price plus the prescribed tax.
Aguila Saleh had previously issued a decision to impose a fee on the official foreign exchange rate of 27% for all purposes, effective until the end of the current year 2024, after a proposal from the Governor of the Central Bank, Al-Siddiq Al-Kabir.
Aguila’s decision was widely rejected by members of the House of Representatives and the Supreme Council of State, who stressed that this tax would harm the citizen’s income, warning also of its consequences on the Libyan economy.
In the same context, the President of the Presidential Council, Mohamed Al-Manfi, had confirmed two days ago that the increased spending, especially inflation, in fuel subsidies requires urgent and decisive treatment and not to blame its consequences on the citizen, calling for a meeting of the Supreme Financial Committee to discuss the causes of inflation and ways to save the Libyan economy.
While the imposition of the dollar tax faces rejection from the Prime Minister of the Unity Government, Abdul Hamid Dabaiba, who stressed that the economic situation is “very good and does not require any exceptional measures.”
Source: Message
2024-04-02 03:16:31