The Presidency Council issues decision on putting emergency financial arrangements.
Pulbished on:
Tripoli, 20.07.2016(Lana) The Presidency Council issued decision No
72/2016 on putting emergency and temporary financial arrangements.
Article one of the resolution provides for the allocation of 1.5
billion Libyan Dinars to be dispensed according to the approved
items.
The resolution provides that the Central Bank of Libya shall deposits
the funds in three installments in an emergency account, or at the
request of the Presidency Council and the first installment shall be
deposited immediately that is upon the resolutions' issuance.
Priorities and beneficiaries from the fund shall be identified
through resolutions by the presidency council provided that the
beneficiary, the amount and item are spelled out in such
resolutions.
The resolution also instructs Ministry of Finance to immediately
release the funds into the bank accounts of the beneficiaries upon
the relevant Presidency Council resolutions.
=Lana=