H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, his deputy, Mr. Maree Al-Barasi, met with the GMs of major banks operating in Libya, including relevant directors of the Central Bank's departments.On Thursday, 17th of Octobe ,2024.The meeting focused on addressing several key issues, including the ongoing liquidity shortage, enhancing electronic payment services, updating banking systems, organizing the foreign currency market, and reactivating exchange offices.<\/p>\n\n\n\n
During the discussions, the Central Bank presented a detailed plan to ensure the availability of cash in the coming weeks. As part of this initiative, the Central Bank will inject 15 billion LYD into the banking sector over the next few months. The actual distribution of cash to bank branches is set to begin on Sunday, 3th of November , 2024, with funds accessible to the public through ATMs and over-the-counter withdrawals.<\/p>\n\n\n\n
One of the main points of discussion was the need to expand electronic payment services as a solution to the cash shortage. To achieve this, the Central Bank will increase the issuance of bank cards to customers, and banks were instructed to expedite the distribution of these cards to ensure wider access to electronic payment options in the near future.<\/p>\n\n\n\n
The meeting also addressed the regulation of the foreign exchange market, where the Central Bank announced the introduction of a licensing process for exchange companies. This regulatory measure aims to bring greater oversight and transparency to foreign currency transactions. Applications for these licenses will be accepted starting from mid-November 2024.<\/p>\n\n\n\n
In addition, there was an emphasis on the importance of accelerating remittance services for both citizens and foreign workers. The Central Bank stressed that these services must comply with current laws and regulations to facilitate smoother foreign currency transactions and ensure the proper functioning of the remittance system.<\/p>\n\n\n\n
This meeting reflects the Central Bank\u2019s commitment to stabilizing the financial sector by addressing liquidity challenges, enhancing banking services, and ensuring proper management of foreign exchange and remittance services in Libya.<\/p>\n","protected":false},"excerpt":{"rendered":"
H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, his deputy, Mr. Maree Al-Barasi, met with the GMs of major banks operating in Libya, including relevant directors of the Central Bank’s departments.On Thursday, 17th of Octobe ,2024.The meeting focused on addressing several key issues, including the ongoing liquidity shortage, enhancing electronic payment services, […]<\/p>\n","protected":false},"author":13,"featured_media":49055,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-49054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/49054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/comments?post=49054"}],"version-history":[{"count":1,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/49054\/revisions"}],"predecessor-version":[{"id":49057,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/49054\/revisions\/49057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media\/49055"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media?parent=49054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/categories?post=49054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/tags?post=49054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}