Libya's Cash Crisis Forces Shift to Cards Amid Growing Challenges | Firstpost Africa

15 hours ago
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Libya's Cash Crisis Forces Shift to Cards Amid Growing Challenges | Firstpost Africa

Libya's ongoing cash crisis is pushing citizens toward digital payments as cash shortages worsen across the country. Long queues outside heavily guarded banks often end in disappointment, with limited withdrawals capped at 1,000 dinars ($206). Civil servants face delayed salaries, while counterfeit 50-dinar notes further disrupt transactions. Younger Libyans are adopting bank cards, but limited ATMs and payment terminals hinder progress. The Central Bank of Libya is attempting solutions, including injecting cash and printing new currency, but political divisions and mistrust in the financial system remain significant obstacles. As Libya struggles with economic instability, the transition to a cashless society highlights resilience but reveals persistent infrastructure and trust challenges. Watch the video to learn more.

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