H.E Mr. Saddek Omar ElKaber, Governor of the Central Bank of Libya, launched the “Digital Innovation and Financial Services Transformation Symposium” Monday, January 29th, 2024, which is organized by the Central Bank in cooperation with the Arab Banking Corporation (ABC).
During his speech, the Governor stressed that the establishment of the Financial Technology and Innovation Unit in the Central Bank of Libya aims to achieve rapid and sustainable development of the banking sector, and stressed that this unit aims to be a leader in the field of improving customer service, accelerating electronic payment processes and digital transformation, and promoting innovation in banking services. The Governor pointed out that this symposium represents an opportunity for private sector companies to benefit from the Financial Technology and Innovation Unit, as it will provide solutions that better meet customer needs.
As a last remark, the Governor stressed that the Central Bank of Libya supports the electronic Know Your Customer (eKYC) initiatives, Instant Payment, and the Open Banking initiative by establishing a financial technology laboratory (Sandbox) that aims to bring about change by experimenting with technologies, modern, advanced and innovative ideas.