Liquidity and electronic payments top the agenda at Central Bank meeting
LIBYA – Central Bank of Libya Governor Naji Issa has held an expanded meeting with a number of general managers of major commercial banks and of the financial services company Moamalat, attended by directors of the bank’s relevant departments, to follow up on a range of banking issues and the challenges facing the sector.
Distributing cash and local and foreign currency
The meeting discussed mechanisms for distributing cash liquidity to banks and their branches so that it reaches citizens and meets the needs of different areas. It also followed up on measures to provide and distribute local and foreign currency and to strengthen banks’ ability to meet their customers’ needs in line with approved rules and procedures.
Electronic transactions reach 865 billion dinars
Participants also discussed expanding electronic payments through modern payment methods and improving the efficiency of electronic services, with the aim of reducing reliance on cash and strengthening financial and banking inclusion.
The meeting addressed strengthening the sector’s readiness to deal with cyber risks and threats and protecting banking systems, particularly after the volume of electronic transactions reached nearly 865 billion Libyan dinars by the end of September 2026.
Coordination between the Central Bank and commercial banks
Issa stressed the importance of continued direct coordination between the Central Bank of Libya, commercial banks and Moamalat, raising readiness and improving the quality of banking services, while following up on implementation of the agreed measures and addressing any difficulties or shortcomings promptly and securely.
