In a significant development reflecting the Central Bank of Libya’s efforts to restore the confidence of international financial institutions, a delegation from the Central Bank of Libya accompanying the Governor met with a senior delegation from Germany’s Commerzbank on Tuesday, October 13, 2026. The Commerzbank delegation included several senior executives responsible for capital markets, financial institutions, and emerging markets. The meeting took place on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok, Thailand.

The meeting culminated in the official announcement of the resumption of banking relations and cooperation between Commerzbank and the Central Bank of Libya and Libyan commercial banks. It also marked the bank’s return to the network of approved correspondent banks, a development expected to facilitate foreign trade transactions and financial transfers between Libya and international markets, particularly those in the European Union.

This development follows a series of meetings, technical discussions, and intensive engagements undertaken by the Central Bank of Libya in recent months to rebuild trust with global banking institutions, expand its correspondent banking network, and strengthen the Libyan banking sector’s integration into the international financial system.

The announcement is particularly significant given the longstanding history of cooperation between the Libyan banking sector and Commerzbank, which had been suspended for more than ten years. Sustained efforts have now helped establish the conditions necessary to restore relations and revive the strategic partnership between the two sides.

During the meeting, the delegations reviewed the reforms and measures being implemented by the Central Bank of Libya to strengthen governance and transparency, ensure compliance with international banking standards, and enhance the framework for combating money laundering and the financing of terrorism. These efforts constitute essential pillars for reinforcing international confidence in the Libyan banking sector and expanding its relationships with global financial institutions.

Both sides also underscored the importance of deepening cooperation and further developing banking relations in the coming period. Their shared objectives include facilitating foreign trade, enhancing banking services, improving the efficiency of cross-border financial transactions, and creating broader opportunities for cooperation with European and international banking institutions.

The resumption of cooperation with Commerzbank after more than a decade represents an important milestone in the process of restoring international confidence in Libya’s banking sector. It also marks tangible progress in the Central Bank of Libya’s efforts to rebuild strategic partnerships and strengthen the country’s presence in the global financial system.