ID :
207593
Fri, 09/16/2011 - 17:45
Auther :
Shortlink :
http://m.oananews.org//node/207593
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Central Bank of Libya's Representative Hails Qatar's Position Vis-a-Vis Libyan Revolution
Doha, September 15(QNA)- A high ranking Libyan banking official has highly appreciated the ''noble position the State Of Qatar has taken in favour of Libya."
In reply to a question by Qatar News Agency(QNA) on Thursday on the whether there is a sort of cooperation between Qatar Central Bank (QCB) and Central Bank of Libya (CBL), especially at this stage, Abdullah Ammar Al Saudi , the representative of the Central Bank of Libya in the 35TH ordinary session of the Board of Governors and governors of the Arab central banks and monetary agencies which concluded in Doha today, said "Such a cooperation is already existing between the two sides and that his country gives a special significance to whatever matters relating to Qatari."
He said that Libya has gold reserves estimated at 144 tons, or to the value of about $ 8 billion dollars, stressing that the gold reserves in Tripoli has been specifically in safety.
The (CBL) representative explained in response to a question on talking about re-evaluating the Libyan currency exchange rate that this matter is premature, emphasizing that the economic situation in Libya will be subject entirely to the review in line with the "new trends that are designed to serve the Libyan citizen, after the Libyan assets used for purposes not for the benefit of the country.”
He stressed that serious steps have been taken from many countries in terms of decoding the freeze on Libyan assets abroad, noting in this context that the reserves of Libya was done in the name of the Central Bank and on behalf of Libyan institutions in many foreign countries as well as Arab countries and thus was frozen to protect them, a clear reference to the reserves.
Asked about the reality of liquidity at the central Libya, Ammar Al-Saudi said that the Central Bank of Libya was able to start all banking activities inside Libya adding that most of the commercial banks started to work even on a small scale.
He noted that the overseas banking operations are now beginning to take its way to meet the requirements of the domestic market, indicating however that all banking services provided to the Libyan citizen will be completed gradually with the development of the Libyan economy and business process.
In this context, Al Saudi stressed that with regard to liquidity, it is now under control, whether what was in place or those overseas adding that relating to the latter, large sums of money have recently been charged from Britain and they are now at the disposal of Central Bank of Libya and are sufficient enough to address both domestic liquidity.
The Central Bank of Libya official said that the amounts of frozen amounts meet the needs of Libya, at least at the current stage, pointing out that some of those amounts are in the form of investments, but the majority of which are liquid assets and are therefore ready and are at the disposal of good reputed banks.
Asked about the current growth rates in the country, Ammar Al Saudi pointed out that the international money market is going through in a phase of contraction, and Libya is not an exception to those countries, and said that "everything will return to normal after completing to address the sediment left by the past decades."
In reply to a question by Qatar News Agency(QNA) on Thursday on the whether there is a sort of cooperation between Qatar Central Bank (QCB) and Central Bank of Libya (CBL), especially at this stage, Abdullah Ammar Al Saudi , the representative of the Central Bank of Libya in the 35TH ordinary session of the Board of Governors and governors of the Arab central banks and monetary agencies which concluded in Doha today, said "Such a cooperation is already existing between the two sides and that his country gives a special significance to whatever matters relating to Qatari."
He said that Libya has gold reserves estimated at 144 tons, or to the value of about $ 8 billion dollars, stressing that the gold reserves in Tripoli has been specifically in safety.
The (CBL) representative explained in response to a question on talking about re-evaluating the Libyan currency exchange rate that this matter is premature, emphasizing that the economic situation in Libya will be subject entirely to the review in line with the "new trends that are designed to serve the Libyan citizen, after the Libyan assets used for purposes not for the benefit of the country.”
He stressed that serious steps have been taken from many countries in terms of decoding the freeze on Libyan assets abroad, noting in this context that the reserves of Libya was done in the name of the Central Bank and on behalf of Libyan institutions in many foreign countries as well as Arab countries and thus was frozen to protect them, a clear reference to the reserves.
Asked about the reality of liquidity at the central Libya, Ammar Al-Saudi said that the Central Bank of Libya was able to start all banking activities inside Libya adding that most of the commercial banks started to work even on a small scale.
He noted that the overseas banking operations are now beginning to take its way to meet the requirements of the domestic market, indicating however that all banking services provided to the Libyan citizen will be completed gradually with the development of the Libyan economy and business process.
In this context, Al Saudi stressed that with regard to liquidity, it is now under control, whether what was in place or those overseas adding that relating to the latter, large sums of money have recently been charged from Britain and they are now at the disposal of Central Bank of Libya and are sufficient enough to address both domestic liquidity.
The Central Bank of Libya official said that the amounts of frozen amounts meet the needs of Libya, at least at the current stage, pointing out that some of those amounts are in the form of investments, but the majority of which are liquid assets and are therefore ready and are at the disposal of good reputed banks.
Asked about the current growth rates in the country, Ammar Al Saudi pointed out that the international money market is going through in a phase of contraction, and Libya is not an exception to those countries, and said that "everything will return to normal after completing to address the sediment left by the past decades."
