In a sign of improved liquidity: Sahara bank announces unlimited cash withdrawal limit

By Sami Zaptia.

Sahara bank has announced an unlimited cash withdrawal policy as Libya’s liquidity improves (Photo: Sahara Bank).

London, 21 April 2021:

In a sign of the improvement in Libya’s cash crisis, more and more banks are raising their daily and weekly cash withdrawal limits for customers.

State-owned Jumhouria Bank, Libya’s largest bank, announced yesterday that it had raised its ATM withdrawal limits to LD 400 per day, 1,200 dinars per week, and 2,000 per month.

Sahara Bank, however, announced that unlimited cash will be available in all its branches.

The increased availability of cash comes on the back of efforts made by the Central Bank of Libya (CBL) to improve cash availability. On 18 April, the CBL granted banks a LD 5 billion loan to help ease the bank clearance process and the country’s bank liquidity crisis.

 

CBL warns of penalties on banks that do not adhere to the agreed service improvement plan | (libyaherald.com)

CBL grants LD 5 bn loan to commercial banks to ease clearance and liquidity crisis | (libyaherald.com)

 

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