Central Banking

Libya begins phasing out old banknotes

The Central Bank of Libya, Tripoli

The governor of the Central Bank of Libya, Saddeq Omar Elkaber, on Friday evening announced a new series of banknotes was being printed to replace the old ones depicting the image of the late colonel Muammar Gaddafi.

The old banknotes will be gradually phased out, starting with the 50 dinar note. Citizens have until March 15 to swap the old banknotes for the new ones. The governor asked all banks to help facilitate the change.

Trust in the Libyan banking system hit rock bottom as the civil war t

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