News in Brief

Central Bank Reunites

The Central Bank of Libya (CBL) has been reinstated as a unified sovereign institution, almost a decade after it was split in two because of the civil war.

The CBL has been divided into western and eastern branches since 2014, after a parallel administration emerged in the east when the country fractured following a civil war. The recognised central bank is in Tripoli, and the breakaway bank in Benghazi. Both have issued their own currency.

The CBL first signalled its intent to move toward reunification in January 2020 as part of a peace process after a ceasefire, and commissioned professional services firm Deloitte to help with the transition.

Cash Depot Launches Bank-in-a-Box

Cash Depot, one of the largest privately owned independent ATM providers and processors in the US, has announced the launch of Bank-in-a-Box, its new cash management, ATM, and consumer financial services system.