The Governor of the Central Bank of Libya (CBL), H.E. Naji Mohammed Issa Belqasem, and the Deputy Governor, Mr. Marei Muftah Al-Baraasi, met today, Wednesday, 5 August 2026, with the General Managers of major commercial banks, including Jumhouria Bank, National Commercial Bank, North Africa Bank, Sahara Bank, and Wahda Bank. The meeting was attended by directors of several relevant departments at the Central Bank and focused on the August plan to provide cash liquidity, strengthen electronic payment services, facilitate the procedures for selling foreign currency allocations for personal purposes, and develop banking infrastructure and improve the quality of banking services provided to citizens.<\/p>\n\n\n\n
The meeting reviewed the Central Bank of Libya\u2019s plan to provide cash liquidity and confirmed the readiness of all branches of commercial banks across Libya to begin distributing cash liquidity to citizens as of Sunday morning, with increased withdrawal limits aligned with citizens\u2019 needs.<\/p>\n\n\n\n
In this regard, it was agreed to take into account the exceptional circumstances affecting certain areas, particularly in light of recurring power outages and shortages in fuel supplies, which may increase citizens\u2019 need for local cash during this period. Accordingly, the withdrawal limit will be LYD 3,000 through bank branches in the western, eastern, and central regions, comprising LYD 2,000 through branch counters and LYD 1,000 through ATMs.<\/p>\n\n\n\n
The withdrawal limit for bank branches in the southern region was set at LYD 4,000, comprising LYD 2,000 through branch counters and LYD 2,000 through ATMs. The Central Bank will continue assessing the needs of different regions and consider the possibility of increasing withdrawal limits in the western, eastern, and central regions in the coming weeks, while continuing to supply banks and their branches with cash liquidity whenever necessary.<\/p>\n\n\n\n
As part of monitoring financial inclusion indicators, the meeting reviewed the latest data on the use of electronic payment methods, which showed unprecedented growth in the volume of electronic transactions.<\/p>\n\n\n\n
The indicators showed that instant payment services LYPay and OnePay recorded transactions worth LYD 252 billion, while payments made through bank cards at Point-of-Sale (PoS) terminals reached LYD 33 billion, through more than 270,000 PoS terminals operating across Libya. This reflects the rapid expansion in the use of electronic payment methods.<\/p>\n\n\n\n
Transactions conducted through mobile banking applications reached LYD 209 billion, while the Real-Time Gross Settlement (RTGS) system recorded transactions worth LYD 143 billion. Transactions through electronic wallets amounted to LYD 650 million, while ATM withdrawals reached LYD 5 billion.<\/p>\n\n\n\n
Accordingly, the total value of electronic transactions recorded from January to July 2026 reached approximately LYD 643 billion. This represents an unprecedented achievement, with electronic transactions expected to exceed LYD 1 trillion by the end of the year, an accomplishment not previously recorded in Libya across any economic indicator of this scale.<\/p>\n\n\n\n
The Governor and Deputy Governor emphasized that these indicators reflect the success of the Central Bank of Libya\u2019s efforts to promote digital transformation and expand financial inclusion. They stressed the importance of continuing to develop banks\u2019 technological infrastructure, complying with the requirements and instructions set out in the IT Governance Guidelines, and strengthening information security and cybersecurity systems to ensure the continuity of banking services and protect systems and data.<\/p>\n\n\n\n
Regarding the sale of foreign currency allocations for personal purposes, participants confirmed that foreign currency sales centers operated by commercial banks continue to provide their services regularly and smoothly, both through cash foreign currency disbursements and the loading of foreign currency onto bank cards, ensuring that citizens receive the service in accordance with the approved regulations and procedures.<\/p>\n\n\n\n
At the conclusion of the meeting, it was agreed to continue monitoring the implementation of the Central Bank of Libya\u2019s plan to develop the banking sector, improve the quality of services provided to citizens, and strengthen financial and monetary stability during the second half of the current year.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Governor of the Central Bank of Libya (CBL), H.E. Naji Mohammed Issa Belqasem, and the Deputy Governor, Mr. Marei Muftah Al-Baraasi, met today, Wednesday, 5 August 2026, with the General Managers of major commercial banks, including Jumhouria Bank, National Commercial Bank, North Africa Bank, Sahara Bank, and Wahda Bank. The meeting was attended by […]<\/p>\n","protected":false},"author":8,"featured_media":88009,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48],"tags":[],"class_list":["post-88008","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\/88008","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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/comments?post=88008"}],"version-history":[{"count":2,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/88008\/revisions"}],"predecessor-version":[{"id":88017,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/posts\/88008\/revisions\/88017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media\/88009"}],"wp:attachment":[{"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/media?parent=88008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/categories?post=88008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbl.gov.ly\/en\/wp-json\/wp\/v2\/tags?post=88008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}