Libya Approves Opening of 91 Exchange Companies and Offices to Regulate FX Market
The Central Bank of Libya has announced the issuance of final operating licenses to 91 exchange companies and offices across several Libyan cities and regions, as part of efforts to regulate the foreign exchange market.
The bank noted that it had previously granted 187 final licenses, bringing the total number of licensed exchange companies and offices nationwide to 278.
This move comes within the framework of the central bank’s strategic plan to activate the role of exchange companies, organize the foreign currency market, and enhance the geographic distribution of financial services to support stability in the local exchange market.
The bank added that the approvals were granted after preliminary licenses and following on-site inspections of company premises, while stressing that more than 2,000 additional applications are still under review due to the high volume of requests.
The bank noted that it had previously granted 187 final licenses, bringing the total number of licensed exchange companies and offices nationwide to 278.
This move comes within the framework of the central bank’s strategic plan to activate the role of exchange companies, organize the foreign currency market, and enhance the geographic distribution of financial services to support stability in the local exchange market.
The bank added that the approvals were granted after preliminary licenses and following on-site inspections of company premises, while stressing that more than 2,000 additional applications are still under review due to the high volume of requests.
