Central Bank Announces Deposit Certificate Maturities
The Central Bank of Libya has launched a new issuance of absolute trading deposit certificates with various maturities, including 91 days, 182 days, and 365 days. The aim is to attract investments and generate profits for commercial banks. The issuance includes three types of certificates with values around ten thousand dinars each, with profit distribution rates reaching up to 99.75% for the bank and 0.25% for the Central Bank. An estimated annual profit margin is expected to range between 5.5% and 7.5%, though these figures are provisional and non-binding. The initiative seeks to strengthen the available funding tools for banks and offers diverse maturities to encourage participation, all as part of efforts to address Libya's economic challenges.
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