Governor of the Central Bank of Libya, H.E. Naji Mohammed Issa, met on Wednesday, with the Governor of the Bank of England, Mr. Andrew Bailey, who also serves as Chair of the Financial Stability Board (FSB) and as a member of the Board of Directors of the Bank for International Settlements (BIS), at his office in London. The meeting was held as part of efforts to strengthen cooperation and communication with international financial and banking institutions.<\/p>\n\n\n\n
The meeting addressed a number of issues of mutual interest, foremost among them current economic and financial developments, economic reform efforts aimed at maintaining fiscal sustainability, and opportunities to enhance cooperation and exchange expertise in the areas of banking, monetary policy, and financial stability. The discussions also covered the potential to draw on international experiences to support the development and efficiency of the banking sector.<\/p>\n\n\n\n
The Governor also highlighted the Central Bank of Libya\u2019s ongoing efforts to implement its financial inclusion initiatives, including the development of electronic payment systems and services, the significant expansion in the use of modern payment methods, and broader access to banking and financial services.<\/p>\n\n\n\n
The meeting further addressed the management of foreign reserves and assets, with both sides exchanging views and expertise on international best practices in this area. Discussions included exploring appropriate approaches and options for increasing the Central Bank of Libya\u2019s gold reserves, as part of a balanced reserve management strategy aimed at diversifying its assets and supporting monetary and financial stability.<\/p>\n\n\n\n
For his part, the Governor of the Bank of England commended the efforts undertaken by the Central Bank of Libya and the progress and achievements it has made across a number of banking and financial areas, despite the challenges and exceptional circumstances arising from Libya\u2019s political and institutional division, which have made it more difficult for the central bank to carry out its functions and responsibilities under normal conditions. He noted that the progress achieved under these circumstances reflects significant institutional efforts to maintain the Bank\u2019s operations, develop its systems and services, and support monetary and financial stability.<\/p>\n\n\n\n
Both sides emphasized the importance of maintaining continued communication, exchanging expertise, and strengthening cooperation between the Central Bank of Libya and the Bank of England, in support of institutional capacity development, the modernization of Libya\u2019s banking sector, and its greater integration into the international financial system.<\/p>\n","protected":false},"excerpt":{"rendered":"
Governor of the Central Bank of Libya, H.E. Naji Mohammed Issa, met on Wednesday, with the Governor of the Bank of England, Mr. Andrew Bailey, who also serves as Chair of the Financial Stability Board (FSB) and as a member of the Board of Directors of the Bank for International Settlements (BIS), at his office […]<\/p>\n","protected":false},"author":8,"featured_media":88217,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-88216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts\/88216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/comments?post=88216"}],"version-history":[{"count":1,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts\/88216\/revisions"}],"predecessor-version":[{"id":88218,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts\/88216\/revisions\/88218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/media\/88217"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/media?parent=88216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/categories?post=88216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/tags?post=88216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}