2024-08-02 00:29:38
The Governor of the Central Bank of Libya, Al-Siddiq Al-Kabeer, held an important meeting with his deputy, in the presence of a number of commercial bank administrations..
During the meeting, it was announced that the instant payment service would be launched between individuals and merchants of the four commercial banks: (Al-Jumhuriya, Al-Wahda, National Commercial, North Africa) as a first phase after the end of the trial period starting today, Thursday.
The service is scheduled to be limited in number as a first phase, with the number increasing gradually, with the opening of competition in providing commercial services between private sector companies and consideration of restructuring the Transactions Company to limit its role to operating sovereign systems, including the national distributor, instant payment, open banking services, and instant transfers, in cooperation with global consultant Oliver Wyman.
It is worth noting that the instant payment service is a modern way to transfer and exchange money and purchase services in a process that takes only moments.
Compared to traditional bank transfers, instant payment services allow funds to be transferred from the payer’s bank account to the beneficiary’s bank account almost instantly, rather than waiting for a few business days.
It is noteworthy that Oliver Wyman is a global company affiliated with the global “Marsh & McLennan” group of companies, listed on the “New York Stock Exchange” under the symbol [NYSE: MMC]This company specializes in consulting services, and its activities focus on the sectors of financial services, aviation, telecommunications, transportation, energy, and the public sector.
Last updated: August 1, 2024 – 18:34
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2024-08-02 00:29:38