Jumhouria Bank Denies Reports on Letters of Credit for School Textbooks
Jumhouria Bank has denied reports of opening letters of credit for a new company to print Libya's school textbooks, amid controversy and claims on social media.
The bank stated on its official Facebook page:
it "has not yet initiated any requests or opened any letters of credit related to school textbooks."
The bank emphasized that all procedures follow the Central Bank of Libya's regulations, which require prior approvals from competent authorities for opening credits.
Jumhouria Bank reaffirmed its
"full commitment to transparency, credibility, and adherence to legal and regulatory frameworks"in all transactions.
Author's summary: Jumhouria Bank denies involvement in printing Libya's school textbooks.