Libyan banks begin U.S. dollar cash disbursement to citizens

A person counts U.S. dollar bills at a bank in Tripoli, Libya, on May 5, 2026. Libyan commercial banks on Sunday began distributing foreign currency allocations in cash to citizens, marking the first such move in about 13 years. Under the new measure, citizens are allowed to receive up to 2,000 U.S. dollars in cash as part of their annual foreign currency allocation. (Photo by Hazem Turkia/Xinhua)

TRIPOLI, May 4 (Xinhua) -- Libyan commercial banks on Sunday began distributing foreign currency allocations in cash to citizens, marking the first such move in about 13 years.

Under the new measure, citizens are allowed to receive up to 2,000 U.S. dollars in cash as part of their annual foreign currency allocation.

The move is part of a strategy of the Central Bank of Libya to regulate access to foreign currency and increase its availability through official banking channels, marking a significant shift in the country's foreign exchange management policy.

The strategy allows citizens to receive their annual foreign currency allocations under the "personal purposes" program. Unlike previous methods that relied on transfers or electronic cards, the funds are now disbursed in cash at bank counters.

The central bank said earlier that it will supply foreign currency to commercial banks, while assigning them full responsibility for transportation and security in accordance with financial and banking safety standards. ■

A bank teller counts U.S. dollar bills in Tripoli, Libya, on May 5, 2026. Libyan commercial banks on Sunday began distributing foreign currency allocations in cash to citizens, marking the first such move in about 13 years.

Under the new measure, citizens are allowed to receive up to 2,000 U.S. dollars in cash as part of their annual foreign currency allocation. (Photo by Hazem Turkia/Xinhua)

A person receives U.S. dollar bills from a teller at a bank in Tripoli, Libya, on May 5, 2026. Libyan commercial banks on Sunday began distributing foreign currency allocations in cash to citizens, marking the first such move in about 13 years.

Under the new measure, citizens are allowed to receive up to 2,000 U.S. dollars in cash as part of their annual foreign currency allocation. (Photo by Hazem Turkia/Xinhua)