Central Bank of Libya has moved to reinforce its foreign currency strategy after high-level talks with Numisma Bank on sustaining dollar supply and strengthening monetary stability.
The meeting brought together Governor Naji Mohamed Issa and senior executives from Numisma, including CEO Vivek Tyagi and former Federal Reserve Vice Chair Randal Quarles.
Discussions focused on the progress of Libya’s cash supply programme, particularly the successful completion of the first phase of US dollar shipments into the country. Officials reviewed reforms introduced by the central bank, including updated compliance frameworks and new regulatory measures for the exchange sector—marking a first in Libya’s financial system.
The talks also addressed mechanisms for distributing hard currency to the public, alongside assessing the readiness of commercial banks and exchange offices to resume direct dollar sales. The initiative is seen as a key step in easing pressure on the parallel market and restoring confidence in the banking sector.
Numisma representatives praised the central bank’s efforts to align with international standards and rebuild trust with global financial institutions. They reaffirmed their commitment to continue supplying US dollars and to provide technical support and advisory services to Libyan financial institutions.
Both sides agreed to maintain the flow of US dollar shipments based on market demand estimates set by the Central Bank of Libya. The agreement also includes plans to supply additional foreign currencies, notably the euro and the British pound, in response to domestic market needs.
The move reflects Libya’s broader push to stabilise its monetary environment amid ongoing economic challenges, with authorities aiming to improve liquidity, strengthen financial governance, and support exchange rate stability.
