Central Bank of Libya pledges tighter monthly budget

The Commercial Banks Credit Covering Committee of the Central Bank of Libya called for assigning a month-to-month budget or even a quarter-year budget that would be very limited provided that it covers all the branches of the Commercial Bank.

The Committee reaffirmed Monday, in a meeting in the CBL’s Banks and Monetary Control department headquarters, that all commercial banks must understand the point behind the limited budget, pointing out that currently, financial incomes are scarcely making their way to the country’s treasury.

“All must unite nowadays and commit to the new rules that came up or things will go wrong and affect the budget allocated to each bank, and we mustn’t forget that working in banks not only for gaining profits, but also for securing the daily needs of the Libyan citizens.” The Committee stated.