Central Bank Denys Signing Contract With De La Rue For Printing Currency

The Central Bank of Libya recently issued a confirmation, which stated that it did not enter into a contract with the British Company ‘De La Rue’ for printing the new Libyan currency. The statement confirms that the Central Bank is still studying the presentations made by major companies and has not yet made the final decision.

The statement reveals that the Tender Committee has received offers from various companies including from the company ‘in question’. To maintain transparency, the bank has listed strict conditions for companies who wish to participate in the tender. The companies have to adhere in terms of price, quality and delivery period in order to qualify through the selection procedure. The committee is currently reviewing all the offers including that of De La Rue.

The statement added that the bank has reviewed the specifications of the new currency and have decided to improve the quality of the printed note. The De La Rue offer, in addition to a special label for the visually impaired was quoted at a price, which was 50% less compared to the past.

The bank statement read, “The Central Bank of Libya is ready to respond to any queries in this regard and it denounces publishing any such news without prior knowledge as it will help in spreading rumours, which will have a negative impact on the banking sector in this transitional phase.”

According to local media reports, De La Rue was accused of unfair trade and being involved in cheating the national exchequer during the past five decades. Reports alleged that the company  had quoted the lowest price compared to others. So far, De La Rue is the only company that has been printing the Libyan currency.

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