The Governor of the Central Bank of Libya, Dr. Fauzi Abokhzam, held a meeting on Thursday morning, 12 November 2026, with representatives of a number of electronic payment service providers, Moamalat Company, and directors of the Bank’s relevant departments.

The meeting reviewed progress in expanding electronic payment services, developments in key performance indicators, and the technical and technological challenges affecting the delivery of these services. Participants discussed ways to address these challenges to ensure the efficiency and continuity of services and to improve the quality of services provided to citizens and institutions.

The discussions also covered the importance of developing the infrastructure underpinning the electronic payments system and strengthening technical integration and connectivity among payment service providers. These efforts are intended to make financial transactions easier and faster, improve operational efficiency, and promote competition in the payment services market.

The Governor stressed the importance of strengthening the security and reliability of electronic payment services and providing a safe and dependable environment that builds users’ confidence and keeps pace with the latest international standards and practices. He also underlined the need to comply with cybersecurity requirements, ensure business continuity, and strengthen operational risk management.

He further emphasised the importance of raising service standards and expanding the reach of electronic payment services across different regions and sectors. This would support financial inclusion, reduce reliance on cash, facilitate financial transactions, and enhance the efficiency of economic activity.

To conclude the meeting, the Governor stressed the need for continued coordination between the Central Bank and companies operating in the sector, concerted efforts to address existing challenges, and regular monitoring of performance indicators. These measures will help support the development of an integrated and sustainable electronic payments ecosystem capable of keeping pace with developments in the financial and technological sectors.