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.