The Governor of the Central Bank of Libya, Naji Muhammad Issa, and his deputy, Mari Muftah Al-Barasi, met with the general managers of the major banks, in the presence of the directors of the relevant departments of the Central Bank.
The most prominent topics of the meeting were related to “solving the liquidity scarcity crisis, developing electronic payment services, modernizing banking systems, organizing foreign exchange sales, as well as reactivating exchange offices.”
During the meeting, “the Central Bank of Libya’s plan to provide cash liquidity was discussed within the coming weeks, as the Central Bank of Libya took the initiative, as part of its plan, to provide 15 billion dinars to all operating banks during the coming months, and the actual distribution to all bank branches will begin starting on Sunday, 3/11.” / 2024, through self-checkout machines and in cash through branches.”
They also discussed “electronic payment services and expanding the issuance of bank cards, which will support solving the problem of liquidity shortages, so that bank branches will speed up the process of delivering bank cards to all their customers in the coming weeks.”
Within the framework of regulating the work of the foreign exchange market, “the commencement of granting licenses to exchange companies and organizing them was discussed, and the actual start of accepting applications was announced as of the middle of next November.”
It was also “discussed to accelerate the express transfer service for citizens and expatriate workers as quickly as possible in accordance with the controls and legislation in force to facilitate all foreign exchange services.”
For their part, bank managers confirmed that “all bank branches will be open to customers with a sufficient stock of liquidity in their coffers, which means gradually reducing the liquidity problem in most regions of the country in line with the plan prepared in advance with the Central Bank of Libya, and adhering to all instructions issued.” To improve the performance of the Libyan banking sector.
Last updated: October 17, 2024 – 15:51
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