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