CBL: We have not started to withdraw the counterfeit 50 dinar note yet

Director of the Statistics and Research Center at the Central Bank of Libya (CBL), Ali Al-Mabrouk, said that the counterfeit of 50 dinars is widespread in the markets and has caused pressure and great demand for foreign currency.

In a statement to Libya Al-Ahrar, Al-Mabrouk denied the Central Bank’s intention to withdraw the 50 dinar note at present, stressing the need for coordination and cooperation between the country’s economic policies to address the financial crisis.

Al-Mabrouk attributed the decline in the exchange rate of the Libyan dinar to the measures that were followed in the past and the closure of oil facilities, considering that the country’s financial situation is not catastrophic, though it is still important to sound the alarm.

The CBL also indicated that the counterfeit of 50 dinars will be deposited per controls and procedures related to money laundering and terrorist financing crimes, especially those received after the withdrawal decision is issued, stressing its keenness to take into account all the reasons for achieving financial stability for the state.


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