Latest news with #NajiIssa
Libya Observer
5 days ago
- Business
- Libya Observer
CBL Governor announces launching Libya's national financial inclusion strategy 2025-2029
The Governor of the Central Bank of Libya (CBL), Naji Issa, announced the launching of the National Financial Inclusion Strategy for Libya 2025-2029, along with a number of transformational projects, during his speech at the opening of the first edition of the Electronic Payment Exhibition and Forum held at the Tripoli Fairgrounds. In his remarks, Issa emphasized that the National Financial Inclusion Strategy, prepared by the Central Bank with national expertise, represents a national, ethical, and professional commitment to all segments of society, according to a statement published by the Central Bank on its Facebook page. The Governor explained that the strategy aims to provide safe, affordable, and easily accessible financial services, while ensuring strict protection of personal data. He also announced the launch of several major accompanying projects that will pave the way for a modern digital economy that is more equitable and inclusive, while enhancing financial stability and development in Libya. Economy Tagged: Electronic Payment Forum
Libya Herald
5 days ago
- Business
- Libya Herald
CBL Governor Issa launches transformational financial projects, including National Strategy for Financial Inclusion
The Governor of the Central Bank of Libya, Naji Issa, announced the launch of the National Strategy for Financial Inclusion and several other transformational projects during the opening of the Electronic Payment Forum and Exhibition ''EPAIX'' 2025 yesterday. The forum is being held from 15 to 17 May at the Tripoli International Fairgrounds. During his opening speech at the forum the CBL Governor announced that the National Strategy for Financial Inclusion in Libya 2025-2029 represents a national, ethical and professional commitment towards all segments of society. The Governor stressed that the strategy, prepared by the Central Bank with national competencies, aims to provide secure, affordable, and easily accessible financial services, with strict protection of personal data. He also announced the launch of several accompanying major projects, most notably: • Financial inclusion accounts project targeting financially excluded groups • Banking data protection system to ensure the confidentiality and privacy of individuals' information • Supporting the digital transformation of the country by fully digitizing government payments • Localization of foreign exchange payment infrastructure under the supervision of the Central Bank • Preparing a legal and technical framework for working with digital and cryptocurrencies • Launch of the digital banking identity to facilitate electronic transactions • Providing internal financial transfers through a national platform without the need for a bank account. The Governor concluded his speech by stressing that these projects pave the way for a modern, fairer and more inclusive digital economy that enhances financial stability and development in Libya. Tags: CBL Central Bank of LibyaCBL Governor Naji Issae-payment e-payments
Libya Review
6 days ago
- Business
- Libya Review
Libya Launches First E-Payment Forum to Boost Digital Finance
Central Bank of Libya (CBL) Governor Naji Issa inaugurated the first edition of the Electronic Payment Exhibition and Forum on Sunday in Tripoli. The event, hosted at the Tripoli International Fairgrounds, is organised by the General Authority for Exhibitions and Conferences and features participation from leading commercial banks and e-payment companies. In his opening speech, the CBL Governor highlighted that the forum reflects the Central Bank's commitment to advancing digital transformation and broadening financial inclusion in Libya. He emphasised the importance of developing digital banking infrastructure and adopting modern electronic payment technologies. Governor Issa announced the launch of a series of banking reform initiatives aimed at enhancing financial services. These include streamlining payment and transfer procedures, strengthening oversight of payment systems, and promoting innovation in financial technology. He also underscored the Central Bank's support for the expansion of e-wallets and point-of-sale (POS) systems across the country. Following the ceremony, the Governor toured the exhibition halls alongside Issam Al-Aoul, head of the General Authority for Exhibitions and Conferences. They visited various stands showcasing the latest technologies in digital banking and e-payments, receiving detailed briefings from company representatives. The event will run until 17 June and features three days of panel discussions, workshops, and technical presentations. Experts, academics, and representatives from major national financial institutions are scheduled to participate. Libyan fintech companies are also presenting their innovations in digital finance and e-payment solutions. The forum is seen as a key step in Libya's efforts to modernise its banking sector and foster a tech-driven economy. Tags: cblCentral BankE-Paymenteconomylibya
Libya Review
20-05-2025
- Business
- Libya Review
Libya's Central Bank Restarts Dollar Sales & Credit Services
On Tuesday, the Central Bank of Libya (CBL) announced it will resume the sale of foreign currency to individuals and companies, starting Sunday, 25 May 2025. The sale of US dollars will take place through the Bank's official foreign currency booking platform. At the same time, the Central Bank confirmed that it will begin accepting new applications for letters of credit, mechanisms that facilitate international trade and imports, also starting on the same day. The Central Bank said it will hold a meeting with Libya's commercial banks to coordinate the rollout of a nationwide plan to improve cash liquidity and enhance digital payment services. The announcement was carried by the state-run Libyan News Agency and reflects a broader effort to restore confidence in the country's financial system. The move follows last month's devaluation of the Libyan dinar, in which the Bank adjusted the exchange rate by 13.3%. The dinar's value was revised from 0.1555 to 0.1349 Special Drawing Rights (SDRs), equivalent to 5.5677 dinars per U.S. dollar. The decision was part of a package of monetary reforms intended to reduce currency speculation and bring the parallel exchange rate closer to the official one. Central Bank Governor Naji Issa had previously stated that firm action was needed to rebalance the economy. He indicated that adjusting the exchange rate was essential to protect Libya's financial stability, promote fair access to currency, and support broader fiscal reform efforts. The resumption of dollar sales and credit facilities signals a return to more predictable financial operations. It also offers a lifeline to Libyan businesses struggling with import restrictions and currency shortages. At the same time, it may ease public pressure amid rising prices and growing frustration with economic uncertainty. With these measures, the Central Bank is taking cautious but deliberate steps to restore balance, improve transparency in currency flows, and strengthen the country's fragile economic recovery. Tags: Central BankDollarForeign Currencylibya
Libya Observer
06-05-2025
- Business
- Libya Observer
CBL holds E-Payment Forum in Tripoli
The Central Bank of Libya (CBL) will hold the first edition of the Electronic Payment Forum and Exhibition in Libya from May 20 to 22 in the capital, Tripoli. In a statement issued on Saturday, the CBL announced that the forum will take place at the Tripoli International Fairgrounds in cooperation with the General Authority for Exhibitions and Conferences, under the auspices of Central Bank Governor Naji Issa. The forum aims to promote financial inclusion in Libya by encouraging the expansion of electronic payment services and strengthening financial transaction controls in line with anti-money laundering and counter-terrorism financing standards. Economy Tagged: Central bank of Libya
