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Home Business

NCB to triple ATM cash withdrawals by February 2023, encouraging card culture and not bank visits

bySami Zaptia
December 12, 2022
Reading Time: 2 mins read
A A
National Commercial Bank is first bank to implement use of unified automated company registration number as part of its KYC process

The National Commercial Bank (NCB) is encouraging card culture by encouraging its customers to use their various debit and ATM cards – rather than visit bank branches, Musbah Akkari the NCB chairman told Libya Herald today.

Akkari was formerly chairman of the largest Libyan state bank, Jumhouria bank. He is also a member of the influential Central Bank of Libya Libyan Dinar Exchange Rate Committee.

The NCB chairman had reported that withdrawals from his bank’s ATM machines in February this year were 8 million dinars. This had increased by a multiple of 6 to LD 50 million by November. Moreover, he hopes this figure will treble to LD 150 million by February 2023.

He said the NCB is trying with all its efforts to improve its banking services its customers. ‘‘We only hope that the customer will come to the branch and receive their card, as there are more than 100,000 cards ready in NCB branches.

Responding to Libya Herald’s question of whether Libyan was still a cash society, Akkari said ‘‘Card, ATM machine and POS culture has in fact taken route in across Libya. The NCB’s increased distribution of cards reduces the use of cheques to withdraw cash at banks, thereby reducing crowdedness at banks and visits at bank.

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By using their cards customers can get their cash in other places other than at banks. We want customers to collect their cards and use their cards which have multiple uses other than cash withdrawals.’’, he explained.

 

NCB to launch new 2023 strategic plan to improve e-banking services (libyaherald.com)

With the launch of new services and products, National Commercial Bank apologises and promises to improve services (libyaherald.com)

LD 100 bn available locally to finance economy: Gumhouria Bank Chairman Musbah Akkari (libyaherald.com)

Central Bank unification is a national demand that everyone should call for: CBL official (libyaherald.com)

e-payments transactions top LD 1.1 bn in Q1 of 2021 – but cash is still king in Libya (libyaherald.com)

National Commercial Bank is first bank to implement use of unified automated company registration number as part of its KYC process (libyaherald.com)

Libya dinar continues to gain strength against hard currencies in black-market – remaining below LD 5 per dollar over last week: Report and analysis (libyaherald.com)

Size of huge LD 111 2020 budget due to parliament pressure on government – will lead to high inflation and further dinar devaluation: member of CBL Committee (libyaherald.com)

End of Libya’s cash liquidity problem? (libyaherald.com)

Foreign exchange sales reached US$ 3 billion after new rate – helping solve liquidity problem (libyaherald.com)

 

 

Tags: ATM ATMscardscashMusbah Akkari chairman NCBNCB National Commercial Bank

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