The Central Bank of Libya announced today, Wednesday, the success of the first phase of launching the “LYPay” service, which the bank announced on August 1, 2024.
The bank stated in a post on its official Facebook page that the daily transfer ceilings were raised from 500 dinars to 1,000 dinars, the weekly from 3,000 dinars to 6,000 dinars, the monthly from 5,000 dinars to 10,000 dinars, the daily purchase ceiling from 1,500 dinars to 3,000 dinars, the weekly ceiling from 5,000 dinars to 10,000 dinars, and the monthly ceiling from 10,000 dinars to 20,000 dinars.
The Central Bank of Libya noted that it will continue to gradually raise the ceiling.
On August 1, the Governor of the Central Bank of Libya, Al-Siddiq Al-Kabeer, and his deputy, Marai Muftah Rahil Al-Barassi, announced the launch of LYPay, the leading instant payment service.
This service allows for instant money transfers between individuals and purchases from merchants via QR Code technology, so that the value reaches the merchant’s (or beneficiary’s) account at the same moment.
To emphasize the importance of facilitating access to financial services for all segments of society and encouraging digital transformation, the Central Bank of Libya decided that the LYPay service would be free of charge until the end of 2024.
The Central Bank of Libya announces the success of the first phase of launching the LYPay service, which the bank announced on August 1st…
Posted byCentral Bank of LibyaIn Wednesday, August 21, 2024
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2024-08-22 02:52:26