On Wednesday, February 19, 2025, H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, held a meeting with Mr. Ousmane Dione, Vice President of the World Bank Group for the Middle East and North Africa, accompanied by his delegation.

Discussions focused on key initiatives led by the World Bank, including technical assistance and advisory support. These initiatives encompass a comprehensive assessment of the Libyan economy, enhancing transparency and disclosure, advancing digital transformation, and strengthening institutional performance and public expenditure efficiency all aimed at fostering economic stability.

The World Bank delegation underscored the critical importance of the Central Bank’s independence during this period, commending the efforts of its new leadership in shaping policies and strategies that effectively address challenges through meaningful structural reforms across various sectors. The delegation also stressed the value of sustained engagement with state institutions and the World Bank Representative Office team, which is set to resume operations at its Tripoli office in the near future.

The Central Bank of Libya (CBL) is pleased to announce the launch of the CBL DevPortal, the official portal dedicated to banks and financial institutions. This portal provides access to all technical documentation and APIs related to the national financial systems, facilitating seamless integration and technical connectivity.

The CBL DevPortal offers comprehensive information on the LYPay platform, FCMS, and the National Address Directory (NAD), enabling banks and financial institutions to review technical standards and integration requirements for these systems.

The portal can be accessed through the CBL’s official website or via the following link:

https://central-bank-of-libya.gitbook.io/devportal

Financial leasing is one of the most prominent financial sectors capable of contributing to project financing. Under the guidance of the H,E the Governor, the Central Bank of Libya (CBL) seeks to develop non-banking financial instruments at the local level. This effort is supported by financial, monetary, and legislative reforms undertaken by the Board of Directors, along with recently approved regulations and guidelines. The CBL recognizes the significant role of financial leasing in driving economic growth and actively contributing to sustainable development. Moreover, it plays a pivotal role in providing substantial liquidity to support various projects.

The Central Bank of Libya’ Board of Directors held its first meeting on 29th of January 2025, in Derna. The meeting was chaired by H.E Governor, attended by his Deputy and all board members, during which the agenda items were discussed, and several key decisions were made. Among the most significant resolutions was initiating the development of a mechanism to establish investment funds aimed at improving the business environment and involving the banking and private sectors in financing development projects.

The Board also reviewed the 2024 public expenditure policy and its impact on the exchange rate, besides the unprecedented surge in demand for foreign currency. Furthermore, it was agreed to engage with relevant authorities to approve a unified budget for 2025, in accordance with a law issued by the House of Representatives, while implementing reforms in public expenditure policies and other economic policies. Additionally, the Board made further decisions related to the operations and responsibilities of the Central Bank and its departments.

Alongside the meeting, the Board conducted an inspection tour within the city of Derna to assess the latest developments in reconstruction efforts and the progress of related initiatives. The Board also held a meeting with the Director General of the Development and Reconstruction Fund and his team to review the projects completed by the fund and those planned for implementation.

In accordance with the Central Bank of Libya’s strategic initiatives to promote financial inclusion and its plan to enhance electronic payment services, along with the implementation of the principles of disclosure and transparency, the Central Bank of Libya announces the statistics for instant payment services: “LYPay” and “OnePay” for the period from January 1^st, 2025, to January 23^rd, 2025.

The Central Bank of Libya reaffirms its commitment to progressively increasing transaction limits for transfers and purchases through its instant payment services.

Statistics for LYPay and OnePay from 01/01/2025 to 23/01/2025 are as follows:

LYPay Instant Payment Service:

• Number of individual subscribers: 1,364,284
• Number of merchant subscribers: 14,122
• Number of transactions (Purchases + Transfers): 56,636
• Transaction value (Purchases + Transfers): 507,607,717 LYD

OnePay Instant Payment Service:

• Total Point of Sale (POS) terminals: 45,067
• Beneficiary accounts: 330,180
• Active merchants: 30,604
• Transaction value: 1,134,304,290 LYD
• Number of transactions: 219,676
• Number of clients: 2,497,063