2024-05-06 19:50:20
The Central Bank of Libya team and the International Monetary Fund expert mission discussed the development file in the banking sector and banking services, through Article 4 consultations for the year 2024, which will last for 10 days to evaluate the general economic and financial situation and the policies and measures taken during the year 2023.
According to the Central Bank, the meeting discussed with international monetary experts; The extent to which banks respond to the instructions and directives of the Central Bank, in addition to identifying and expanding digital transformation plans during the current year.
Presentations submitted by the directors of the National Commercial Bank and Al-Nooran Bank were also heard.
The two sides also discussed the Central Bank’s efforts to maintain the state’s financial sustainability despite the challenges, as well as the Central Bank’s efforts to develop the infrastructure for effective banking supervision, and the status of the balance of payments and foreign exchange reserves, according to the Central Bank.
The two parties focused on the practical aspects of combating money laundering and terrorist financing, and expansion plans in the areas of financial technology and innovation.
The bank reported that specialized technical teams joined during the days of consultations representing the Ministries of Finance, Economy and Trade, Planning, Labor and Rehabilitation, in addition to the teams of the Audit Bureau and the National Oil Corporation.
It is noteworthy that Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts visits the member state and conducts official consultations with its officials.
Source: Central Bank of Libya + Libya Al-Ahrar Channel
2024-05-06 19:50:20