Within the framework of organizing and developing the work of exchange companies and offices, and enhancing coordination between them and the banking sector, a broad meeting was held on, Tuesday, 23 December 2025, at the headquarters of the Banking and Supervision Department. The meeting brought together a number of general managers of commercial banks, along with directors of several specialized departments at the Central Bank of Libya.<\/p>\n\n\n\n
During the meeting, discussions focused on regulating the operating mechanism of exchange companies and offices that have obtained licenses from the Central Bank of Libya, in preparation for the commencement of their activities in accordance with the approved regulations and instructions. The meeting also addressed the framework of interaction between commercial banks and exchange companies and offices, particularly with regard to the execution of fast cash remittances through the Western Union and MoneyGram systems.<\/p>\n\n\n\n
Participants discussed the sources for funding the accounts of exchange companies and offices with foreign currency, as well as the procedures required to allow these entities to execute direct remittances through the accounts opened for them at commercial banks, in a manner that ensures compliance with supervisory regulations and anti-money laundering and counter-terrorism financing standards.<\/p>\n\n\n\n
The meeting also addressed the technical systems to be adopted by exchange companies, commercial banks, and the Central Bank of Libya to implement the proposed operating mechanism, ensuring system integration and the soundness of operational and supervisory procedures.<\/p>\n\n\n\n
This meeting comes as part of preparations for a scheduled meeting with exchange companies and offices next week, to complete discussions on the related regulatory and technical aspects.<\/p>\n\n\n\n
The Governor of the Central Bank of Libya granted authorization to banks and licensed exchange companies and offices to begin taking the necessary steps to activate the operating mechanism for executing fast cash remittances through the MoneyGram and Western Union systems, in accordance with the regulations and instructions issued by the Central Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"
Within the framework of organizing and developing the work of exchange companies and offices, and enhancing coordination between them and the banking sector, a broad meeting was held on, Tuesday, 23 December 2025, at the headquarters of the Banking and Supervision Department. The meeting brought together a number of general managers of commercial banks, along […]<\/p>\n","protected":false},"author":12,"featured_media":69703,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-69702","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\/69702","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\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/comments?post=69702"}],"version-history":[{"count":1,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/69702\/revisions"}],"predecessor-version":[{"id":69709,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/69702\/revisions\/69709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media\/69703"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media?parent=69702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/categories?post=69702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/tags?post=69702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}