Central Bank of Libya unveils online system for $4,000
The Central Bank of Libya has launched a new online reservation system allowing citizens to access up to $4,000 USD annually for personal use, in a move designed to streamline foreign currency acquisition and combat black market trading.
According to the bank’s announcement, the initiative will take effect from 21 March 2025, enabling Libyans to complete their foreign currency applications electronically through the central bank’s official website at cbl.gov.ly.
The digital platform represents a significant shift from the previous system, which required citizens to visit physical bank branches—a process that frequently resulted in overcrowding and lengthy waiting periods.
Banking officials indicated that the transition to online services aligns with global financial technology trends while providing greater convenience to Libyan citizens needing foreign currency for travel, medical treatment abroad, or other personal requirements.
The measure forms part of broader efforts to modernise Libya’s banking sector and reduce reliance on unregulated currency exchange markets that have historically contributed to economic instability.
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