BusinessLibya

CBL denies suspending letters of credit for car import

The Central Bank of Libya denies rumors that the bank suspended the issuance of letters of credit for car and food import, according to Sunday statements by Director of the Supervision Department of the CBL Mokhtar Al-Taweel.

Al-Taweel added on Sunday that the CBL did not place any restrictions on certain imports, stressing that their mission is limited to monitoring the market in terms of demand and supply.

He pointed out that the Libyan trade market has witnessed since the beginning of this year a balance between supply and demand after the increase in demand for letters of credit at the end of 2018.

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