In attendance of Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman and a number of heads of state and decision-makers in the world,H.E Mr.Saddek Omar Elkaber, Governor of the Central Bank of Libya, participated in the “The Future Investment Initiative” (FII) conference in its seventh session entitled “The New Compass,” held In the Saudi Arabian capital, Riyadh, this morning, Tuesday, 24th of October 2023, in the presence of the President of the World Bank, the Governor of the Public Investment Fund, the President of the Future Investment Initiative Institute (FII Saudi Arabia), the CEO of the Future Investment Initiative Institute (FII Institute), in addition to the heads of the boards of major international banks and financial institutions. Where the global challenges the world faces in the areas of economics, geopolitics, climate change, the role of governments, education and health care were discussed. The conference also aims to enhance global cooperation and the importance of such cooperation to confront the challenges facing the world.

In the presence of the Resident Representative of the World Bank in Libya, Mrs. Henriette von Kaltenborn, and members of the Finance Committee of the Libyan Parliament, H.E Mr.Saddek Omar ElKabir met in his office today, Wednesday, 18th of October 2023, in the presence of the Deputy Governor, to discuss the role of the World Bank in the reconstruction of the city of Derna and the areas affected by the Hurricane Daniel disaster, where she presented The World Bank representative briefed her on the World Bank’s assessment of the damages, its vision for reconstruction, and its experience in some countries through a comprehensive assessment that the World Bank will present mid-next month. They also discussed developing a joint vision with all state institutions to ensure the reconstruction of the affected areas and overcoming difficulties.

H.E Mr. Saddek Omar ElKabir, Governor of the Centra Bank of Libya, and his team discussed today, Saturday, 14th of October 2023, with (Kristalina Georgieva), Director General of the International Monetary Fund, and (Nadia Calvino) the President of the International Monetary and Financial Committee (IMFC), and other Central Bank Governors, the agenda of the forty-seventh meeting sessions of the Committee which was held in Marrakesh, the Kingdom of Morocco, which included the global economic and financial conditions in light of successive economic crises and policies, and the natural disasters in some countries, as well as the committee’s support for the efforts to combat inflation, maintain financial stability, support sustainable growth and contain risks in the financial, banking, and non-financial systems, and support Countries’ efforts to reduce debt burdens and coordinate policies. The Committee also decided to support the request of the African Group at the International Monetary Fund to be added as a seat on the Board of Executive Directors.

The strategic partnership in investment tools, the economic conditions in the European, Latin American, and Asian markets, expectations for the year 2024, information about the Central Bank of Libya’s project package for the year 2024, the path to implementing the unification of the bank, and the bank’s efforts to enhance transparency and disclosure, were the most important topics of the meeting of H.E Mr. Saddek Omar ElKabir, Governor. The Central Bank of Libya and its team with (Iván Poza), Global Head of the Financial Institutions Group of the Spanish BBVA , in the city of Marrakesh in the Kingdom of Morocco.

Reconstruction of the city of Derna and the affected areas, the experience of the European Bank for Reconstruction and Development in reconstructing areas affected by earthquakes in Turkey, Morocco and Kyrgyzstan, the results of the previous Warsaw meetings, and the programs run by the Bank in creating local development and the possibility of implementing it in southern Libya, activating state membership. Libya in the European Bank for Reconstruction and Development, which was launched in 2013, and supporting Libya’s contribution to decision-making within the bank, and reviewing the results of the Libyan delegation’s visit to the bank’s headquarters in London last month, and the bank’s experience in investing in solar energy, and the financing opportunities that the bank grants to the sector. Private and small and medium enterprises, especially for women and youth, and benefiting from the bank’s experience in the Republic of Egypt, and the bank’s visit program to Libya during the first quarter of 2024, were the most important topics discussed by H.E Mr. Saddek Omar Elkabir, Governor of the Central Bank of Libya, and his team with (Heike Hargamart). Executive Director for the Southern and Eastern Mediterranean Region at the European Bank for Reconstruction and Development and her team, today, 14th of October 2023 in the city of Marrakesh, Kingdom of Morocco.

Cooperation between Libyan and Maltese banks, and the existing cooperation between the Libyan Financial Information Unit and its counterpart in Malta in the field of combating money laundering and terrorist financing, and compliance to the European Union requirements for banking, are the most important topics of the meeting between H.E. Mr. Saddek Omar Elkabir, Governor of the Central Bank of Libya, and his team with (Edward Scicluna) Governor and his Deputy Governor of the Central Bank of Malta, held today Saturday, 14th of October 2023 during the annual meetings of the IMF in Marrakesh, Kingdom of Morocco

Business continuity plans, joint investment programs, investment opportunities in bonds, strong historical relations with the most important correspondent banks, and the importance of the efforts made by the Central Bank of Libya to maintain financial stability, and the international financial and banking relations are the most important topics of the meeting held between H.E Mr. Saddek Omar ElKabir, Governor of the Central Bank of Libya, and his team with (Phillip Brown) CEO of Clearstream Group, today 14th of October ,2023 in Marrakesh, Kingdom of Morocco.

The Central Bank of Libya’s team reviewed with bank of Morgan Stanley the latest global economic developments and the bank’s expectations for the year 2024 in light of the changes taking place in financial markets, global supply chains, and the efforts of the Bank of Libya in combating money laundering and compliance with the rules of governance and transparency, and taking note of the process of unifying the Central Bank of Libya, as well as the proposed investment tools.

H.E. Mr. Saddek Omar Elkaber, Governor of the Central Bank of Libya, and his team discuss with the President of the World Bank (Ajay Banga), and the Managing Director of the International Monetary Fund (Kristalina Georgieva), and other governors of central banks, and the finance ministers of the International Monetary Fund and the World Bank’ members, the global economic and financial conditions and their impact on the economies of the developed and developing countries. In addition to the measures required to reduce the level of poverty and achieve sustainable development in the countries of the African continent, and give a greater role to the countries of the continent in their representation in international institutions, and the International Monetary Fund in particular, and agreeing to support coordination efforts between the International Monetary Fund and the World Bank in adopting economic and financial policies that preserve Financial and monetary stability, during the plenary session of the annual meetings of the International Monetary Fund, which was held today, Friday, 13th of October in Marrakesh, Kingdom of Morocco.

Benefiting from previous experiences of the World Bank regarding reconstruction in the reconstruction of the city of Derna and the areas affected by Hurricane Daniel, and the rapid comprehensive disaster damage survey program implemented by the World Bank for the city of Derna and the affected areas, and the role of the Central Bank of Libya in making reconstruction plans successful, and governance and transparency of spending on development and restoration programs. Reconstruction, the support of the World Bank with statistics and financial and monetary data issued by the Central Bank of Libya, and the aspects of support provided by the World Bank to the banking sector in the field of payments, financial inclusion, reserve management, green finance, financial technology, etc., and the schedule of the World Bank’s visit to Libya next week, the most prominent topics of the meeting of H.E. Mr. Saddek Omar Elkaber Governor of the Central Bank of Libya, and his team with Mr. Ferid Belhaj, Vice President of the International Monetary Fund for the Middle East and North Africa, and his team today, Friday, 10/13/2023, in Marrakesh, Kingdom of Morocco.

Reviewing the global economic situations, the conditions of North Africa and the Middle East, and global experiences in governance and financial management for reconstruction programs in areas affected by natural disasters, and developing existing cooperation between the bank and the group in various financial and investment fields, the most important topics of the meeting held between H.E. Mr. Saddek Omar Elkaber Governor of the Central Bank of Libya, and his team with (Julie Monaco), Group Head of the Public Sector of the Citi Group International. Thursday, 12th of October 2023, in Marrakesh, Kingdom of Morocco.

Global economic conditions, cooperation and exchange of experiences between the Central Bank of Libya and Bank Al-Maghrib, digital transformation, and the agenda of the Maghreb Banking Forum in Tripoli this month, the most important topics discussed by H.E. Mr. Saddek Omar Elkaber Governor of the Central Bank of Libya and his team with H.E. Mr. Abdellatif Jouahri, Governor of Bank Al-Maghrib and his team during the reception held in honor of the Central Bank of Libya’s Governor, in Marrakesh, Kingdom of Morocco, Wednesday, 11th of October 2023.