On Monday, 22nd of July, 2024, a meeting was held at the Arab Banking Corporation (Bank ABC) in London. In attendance of H.E Mr. Saddek Omar ElKaber, Governor of the Central Bank of Libya, and Mr. Maree Al-Barasi, Deputy Governor, along with members of the Steering Committee for the Financial Inclusion and Digital Transformation Strategy project, Moamalat Company's Board of Directors, representatives from the Arab Banking Corporation (Bank ABC), and the Arab Financial Services Company (AFS).
The meeting discussed the Central Bank of Libya’s strategy for financial inclusion to accelerate electronic payments, which is being developed in partnership with the global firm (Oliver Wyman). Eight initiatives were approved, including developing financial services for all segments of society through financial technology and digital transformation, instant payments, open banking, developing the national switch, and establishing regulatory controls for this field according to the best practices.
During the meeting, the Governor emphasized the importance of these initiatives in enhancing financial inclusion and facilitating access to financial services, which contributes to overcoming liquidity issues and achieving economic stability and comprehensive development in Libya.