BusinessLibya

BCD provides money transfer service with Western Union

Libya’s Bank of Commerce and Development (BCD) announced on Tuesday launching a money transfer service in cooperation with Western Union.

The maximum value of transaction will be $3,000, and the service will start in four branches of the bank in Tripoli, Benghazi, Baydaa, and Tobruk, according the bank’s statement on Facebook.

The move is part of efforts by local authorities to ease financial services for citizens.

A high-level meeting last week gathered head of the U.N. Support Mission in Libya (UNSMIL) Ghassan Salame, governor of the Central Bank of Libya (CBL) in Tripoli Saddek El-Kaber, and governor of the parallel CBL in El-Bayda Ali El-Habri on Wednesday.

Sources told 218 they agreed during the meeting to review both of Libya’s central banks’ general budgets, public debt, foreign-exchange reserves, and credits granted for imports for the recent years.

The sources added the review will be supervised by three working groups, including the advisory council, technical committee, and financial review team.

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