The Central Bank of Libya held an expanded meeting with exchange offices and companies on Thursday, 01 January 2026, to regulate the mechanism for supplying them with foreign currency and facilitating financial transfers.

The meeting, attended by representatives of offices and companies operating in the sector, aimed to present the new mechanism for funding their foreign currency accounts through the Central Bank of Libya, as well as clarifying how it will be utilized in carrying out their assigned activities.

The mechanism consists of two phases: the first covers fast cash transfers through specialized companies (such as Western Union and MoneyGram), while the second involves direct transfers (SWIFT MT103 messages) through the bank accounts of these offices held with operating commercial banks.

Participants discussed the operational and technical aspects of the mechanism. The Central Bank of Libya delivered a detailed presentation and responded to inquiries, confirming the commencement of practical steps to activate and test the dedicated systems during January 2026.

The Central Bank also emphasized that all these measures will be implemented in accordance with the applicable regulations and instructions.