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English-language publications used "£T" as the sign for the currency, [4] [5] but it is unknown whether it was ever used natively. Between 1844 and 1881, the lira was on a bimetallic standard , with LT 1 = 6.61519 grams pure gold (roughly 9 ⁄ 10 of a British Sovereign ) = 99.8292 grams pure silver.
When Libya was a part of the Ottoman Empire, the country used the Ottoman qirsh, issuing some coins locally until 1844. When Italy took over the country in 1911, the Italian lira was introduced. In 1943, Libya was split into French and British mandate territories.
This infobox shows the latest status before this currency was rendered obsolete. The lira ( Arabic : ليره , plural: lire , abbreviation: MAL), officially known as the Military Authority Lira , was the currency of the British zone of occupation (later Mandate Territory) in Libya between 1943 and 1951, and of the province of Tripolitania ...
The Italo-Turkish War was fought between the Ottoman Empire and the Kingdom of Italy from September 29, 1911, to October 18, 1912. As a result of this conflict, the Ottoman Turks ceded the provinces of Tripolitania, Fezzan, and Cyrenaica to Italy. These provinces together formed what became known as Libya.
The Venetian lira was one of the currencies in use in Italy and due to the economic power of the Venetian Republic a popular currency in the Eastern Mediterranean trade. During the 19th century, the Ottoman Empire and the Eyalet of Egypt adopted the lira as their national currency, equivalent to 100 piasters or kuruş. When the Ottoman Empire ...
The economic history of the Ottoman Empire covers the period 1299–1923. Trade, agriculture, transportation, and religion make up the Ottoman Empire 's economy. The Ottomans saw military expansion of currency, more emphasis on manufacturing and industry in the wealth-power-wealth equation, and moving towards capitalist economics comprising ...
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Both names were also used after the unification, with Italian Libya becoming the official name of the newly combined colony. It had a population of around 150,000 Italians. [3] The Italian colonies of Tripolitania and Cyrenaica were taken by Italy from the Ottoman Empire during the Italo-Turkish War of 1911