The Governor of the Central Bank of Libya, H.E. Naji Mohammed Issa, chaired,the Article IV Consultation Mission along with Mr. Maree Al-Barasi Deputy Governor the mission was attended by specialized technical teams representing several sovereign entities, including the Ministries of Finance, Economy and Trade, Planning, Labor and Rehabilitation, Justice, Education, and Health, in addition to the Audit Bureau, the National Oil Corporation (NOC), the Administrative Control Authority, and the Bureau of Statistics and Census on Monday, April 14, 2025.

The consultations are part of the ongoing assessment of Libya’s economic and financial conditions, aiming to support economic reform efforts that contribute to achieving financial stability and promoting sustainable growth.

During the meeting, participants reviewed the performance of the national economy, as well as the fiscal, monetary, and trade policies implemented during 2024, in addition to the measures undertaken by the Central Bank of Libya in the first quarter of 2025.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, met with His Excellency the President of House of Representatives, Counselor Aguila Saleh on Thursday, March 20, 2025 in Al-Qubbah city.
During the meeting, various of issues were discussed, primarily the economic and financial situation in the country, as well as mechanisms to address certain challenges. Emphasis was placed on the importance of preserving foreign currency reserves, ensuring the state’s financial sustainability, controlling and unifying public expenditure, and maintaining continuous communication with the leadership of the House of Representatives.

The discussions also covered the Central Bank of Libya’s notable efforts in advancing banking services and electronic payment systems. Additionally, the meeting underscored the importance of enacting certain banking-related laws to ensure financial and banking sector stability.

The Monetary Policy Committee held its second meeting chaired by H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, and his deputy, Mr. Maree Al-Barasi, including committee members on Monday, March 17, 2025, in Tripoli.

During the meeting, the committee discussed key economic indicators for the period of January–February 2025. It also reviewed reports from Research and Statistics Department on the use of foreign exchange by banks, developments in the Libyan dinar exchange rate, the statement of revenue and public expenditure, key financial data and indicators for the banking sector, as well as local and global price trends. 

The committee will submit its report, along with its recommendations, to the Board of Directors of the Central Bank of Libya.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, met with the Special Representative of UN Secretary-General to Libya, Ms. Hanna Tetteh on Monday March 10, 2025. During the meeting, they discussed the efforts of Central Bank of Libya in maintaining financial and economic stability in the country despite numerous risks and challenges.

At the conclusion of the meeting, Ms. Hanna Tetteh praised the pivotal role played by the Central Bank of Libya in the pursuit of issuing a unified budget law, emphasizing its crucial importance for the stability and future of the country. She also commended the achievements of the new management of Central Bank in overcoming the liquidity crisis, the noticeable progress in electronic payment systems, and alleviating citizens’ suffering. She stressed the importance of keeping this vital sovereign institution away from political conflicts and supporting its journey toward achieving real economic reforms.

H.E. Naji Mohammed Issa Governor of the Central Bank of Libya , held meeting with managers of commercial banks, in the presence of several directors from Central Bank departments on Sunday, March 9th, 2024.

The meeting aimed to follow up on the implementation of the Central Bank’s policies regarding the regulation of foreign currency sales, ensuring compliance with directives designed to improve banking infrastructure, enhance electronic payment systems, and address liquidity challenges to ensure cash availability for all citizens, particularly during the Holy Month of Ramadan.

During the meeting, the Governor emphasized the necessity for banks to adhere to the standards, policies, and procedures established by the Central Bank to safeguard the country’s foreign currency reserves and maintain the value of the Libyan dinar. He underscored that these measures contribute to financial and economic stability and the country’s financial sustainability. Additionally, the importance of promoting financial inclusion was highlighted, particularly through the expansion of electronic payment services as part of the digital transformation strategy, which aims to reduce reliance on cash and facilitate financial transactions for citizens.

The bank managers, in turn, reviewed the measures taken to enhance banking infrastructure, reaffirming their commitment to implementing plans that would improve the efficiency of banking services and expand digital banking offerings. This includes increasing the number of electronic Point-of-Sale (POS) terminals and further expanding the issuance of banking cards.

At the conclusion of the meeting, the Governor reiterated the importance of ongoing performance monitoring for banks and stressed the need for strong collaboration between financial institutions and relevant authorities to ensure the delivery of banking services that meet citizens’ needs and strengthen financial stability in the country. In this regard, he issued directives to reduce transaction fees on bank card payments at POS terminals to below 1% as a maximum across all sectors without exception. Additionally, an agreement was reached to allow citizens to withdraw cash from any bank using the pre-authorized cash advance feature via POS terminals.

According to the plan of the Central Bank of Libya (CBL) to activate the role of exchange offices and companies and following the previous announcement regarding the issuance of practice permits to 64 companies and exchange offices, the CBL announces the approval of H.E. Governor Naji Mohammed Issa to grant practice permits to an additional 71 companies and exchange offices, bringing the total to 135. In this context, the bank announces the opening of applications for the initial approval of new exchange companies and offices, starting from March 1st until June 30th, 2025.

On Tuesday morning, February 25, 2025, CBL’s Board of Directors held its second meeting of 2025 in city of sabha, chaired by the Governor, with the attendance of his Deputy and all board members. During the meeting, the agenda items were discussed, with the most important being the follow-up on exchange rate indicators, covering the demand for foreign currency, and the level of oil revenues deposited into the bank. The board also decided to encourage banks to expand their branches and agencies in the southern regions, maintain existing branches, and increase the spread of electronic payment services while ensuring a continuous supply of liquidity.

On the sidelines of the meeting, H.E. Naji Mohammed Issa Governor of the Central Bank of Libya and all board members conducted a field visit within the city of Sebha, starting with the branch of the Central Bank of Libya in sabha, followed by a visit to commercial bank branches to assess their compliance with the Central Bank’s directives regarding the plan to resolve the cash liquidity shortage, enhance electronic payment systems, and ensure the readiness of commercial bank employees and security personnel at facilities and branches in the southern region to serve citizens and organize branch operations.

The National Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Committee held its first meeting of the year on Monday, February 24, 2025, chaired by H.E. Naji Mohammed Issa Governor of the Central Bank of Libya and Chairman of the AML/CTF Committee, in attendance of members representing relevant national entities and institutions in Tripoli.

During meeting the discussions focused on Libya’s preparedness for the mutual evaluation process by the Financial Action Task Force (FATF). The meeting emphasized the importance of the country’s commitment to international standards and requirements for combating money laundering and terrorism financing by developing the legislative framework, including relevant laws, regulations, and guidelines.

The meeting also approved an update to the AML/CTF Strategy and discussed the necessary implementation steps to ensure its effective execution. These measures aim to ensure the country’s compliance with AML/CTF standards, thereby avoiding the consequences of being classified as a non-compliant jurisdiction.

At the conclusion of the meeting, in light of urgent requirements and the need for compliance with AML/CTF standards, the importance of taking the necessary measures to ensure adherence to relevant international standards and to enhance the effectiveness of national efforts in this field was reaffirmed. The committee also urged the legislative authority to promptly adopt the draft AML/CTF Law, which was submitted by the National Committee. This law represents a crucial step in implementing the national strategy and meeting international requirements and standards in this regard.

As part of the Central Bank of Libya’s strategic plan to ensure consistent cash liquidity across the country and continuously expand the electronic payment services, H.E. Naji Mohammed Issa Governor of the Central Bank of Libya, held a meeting with general managers of major commercial banks, the Director General of Moamalat Financial Services Company, and senior officials from the Central Bank’s relevant departments on Sunday, February 23, 2025. The meeting was to identify the needs of the branches of these banks and the plan of banks to distribute liquidity, and to overcome the difficulties encountered in providing various banking services.

Bank executives reaffirmed their commitment to executing the Central Bank’s liquidity distribution plan in coordination with and under the support of the Security and Facilities Protection Authority. Bank executives also highlighted the sustained growth of electronic payment services, noting increased customer adoption following service enhancements, greater diversification, and the gradual reduction of commissions according to the Governor’s directives.