H.E. Mr. Naji Mohammed Issa, Governor of the Central Bank of Libya, met on Friday, April 17, 2026, with Mr. Pan Gongsheng, Governor of the People's Bank of China. The meeting reviewed the volume of bilateral trade between the two countries and discussed ways to enhance it and increase its growth rate.

The two sides also emphasized the importance of launching a new phase of a genuine strategic partnership between the two central banks. In this regard, they agreed to connect Libyan commercial banks to China’s Cross-Border Interbank Payment System (CIPS), which would facilitate financial transfers in a more efficient and streamlined manner.

Furthermore, both parties agreed to address existing challenges and work towards facilitating bilateral trade procedures to boost trade volumes. This includes initiating direct remittance transfers to China to support small traders, as well as enabling the opening of letters of credit directly through Chinese banks.

The two sides also agreed to organize an official visit of a Libyan banking delegation, headed by the Governor and accompanied by the general managers of Libyan commercial banks, to China in the near future. The visit aims to meet with the People's Bank of China and Chinese commercial banks to strengthen bilateral cooperation and benefit from China’s experience in electronic payments and direct financial transfers. This is expected to help reduce reliance on the parallel market, ensure compliance with anti-money laundering and counter-terrorism financing standards, and enhance the reputation of the Libyan banking sector.