BusinessLibya

Delay in salary reimbursement owed to technical issues: CBL

The delay in monthly reimbursement of salaries is a result of electronic clearing system failure at the Central Bank of Libya (CBL) in Tripoli, the head of the liquidity committee at the al-Bayda-based CBL, Ramzi Agha, said Monday.

The clearing system operates intermittently for technical reasons, he added on his official Facebook account.

Agha warned of rumors among workers in the banking sector regarding the delay.

The CBL has begun working on the developed system of Automated Clearing House of Instruments in October 2016 as part of a plan to develop the national payment system. This developed system allows the instrument to be registered in an hour or at maximum during the same day, in all commercial banks and their branches.

This project was launched in September 2015 and effectively operated in 2016. This project has faced many difficulties due to the security situation in the country.

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