As a continuation of the discussions held during the consultative meeting on Sunday, 25 October 2026, the Board of Directors of the Central Bank of Libya convened its fifth regular meeting of 2026 on Wednesday, 28 October 2026, at the Bank\u2019s headquarters in Tripoli, in the presence of all Board members.
The Board discussed a number of matters and issues related to strengthening institutional governance, developing banking services, maintaining monetary and financial stability, supporting the electronic payment system, enhancing cybersecurity, and protecting the digital infrastructure of the banking sector. The meeting focused on a number of key decisions and directives, as outlined below:<\/p>\n\n\n\n
First: Strengthening the Governance of the Board of Directors
As part of the efforts to complete the Bank\u2019s institutional governance framework, the Board resolved to establish a committee to review and address risks, thereby strengthening oversight and supervision and supporting the monitoring of plans, programmers, and periodic and annual financial reports. The committee will also contribute to identifying, assessing, and monitoring risks, as well as mitigating their impact, in accordance with the principles of governance and best institutional practices.<\/p>\n\n\n\n
Second: Establishment of a Monetary Policy Committee
The Board resolved to establish a Monetary Policy Committee comprising a select group of academic and professional experts with specialised qualifications. The committee will support the monetary decision-making process on sound scientific and professional grounds, enhance the efficiency of monetary policy, and develop its instruments in line with the mandate of the Central Bank and leading international practices in this field.<\/p>\n\n\n\n
Third: Financial Reporting and Electronic Payment Systems
The Board reviewed the financial and technical reports presented, including reports relating to electronic payment systems. It emphasized the need to continue developing these systems, enhancing their efficiency and reliability, and expanding the use of electronic payment methods. These efforts aim to reduce reliance on cash, improve the efficiency of financial transactions, enhance the quality of services provided, and strengthen confidence in the banking sector.<\/p>\n\n\n\n
Fourth: Use of Foreign Currency and the Strategic Budget
The Board discussed developments concerning foreign currency conditions and the strategic budget framework. It emphasized the importance of coordination with the relevant executive authorities regarding strategic budget commitments, ensuring that available resources are directed towards meeting the essential needs of the national economy for goods and services. Particular emphasis was placed on the approach of the month of Ramadan, with a view to supporting exchange-rate stability, improving the efficiency of foreign currency utilization, and safeguarding the integrity of reserves.<\/p>\n\n\n\n
Fifth: Coordination with the Executive Authority on Fiscal and Economic Reforms
The Board stressed the importance of continued coordination with the executive authority on public expenditure issues and efforts to unify the general budget without delay, alongside progress on the necessary reforms to Libya\u2019s economic system. These measures are intended to support financial and monetary stability, improve the efficiency of public resource management, and reinforce fiscal discipline.
The Central Bank of Libya reaffirms its commitment to continuing its efforts to develop institutional performance, strengthen the principles of governance and transparency, and improve the quality of banking services in accordance with applicable banking regulations. Through these efforts, the Bank seeks to promote monetary and financial stability, serve the interests of citizens, and support the national economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
As a continuation of the discussions held during the consultative meeting on Sunday, 25 October 2026, the Board of Directors of the Central Bank of Libya convened its fifth regular meeting of 2026 on Wednesday, 28 October 2026, at the Bank\u2019s headquarters in Tripoli, in the presence of all Board members.The Board discussed a number […]<\/p>\n","protected":false},"author":13,"featured_media":15031,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-88532","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\/88532","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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/comments?post=88532"}],"version-history":[{"count":1,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts\/88532\/revisions"}],"predecessor-version":[{"id":88533,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/posts\/88532\/revisions\/88533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/media\/15031"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/media?parent=88532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/categories?post=88532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/daharap\/wp\/v2\/tags?post=88532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}