The eastern Central Bank of Libya, in cooperation with the Economic Sciences Research Centre, is organizing a conference on ‘‘The Libyan banking system: towards a future vision for development’’ with international participation. The event will be held from 12-13 August in Benghazi.
The conference aims to emphasize the role of the Central Bank of Libya in following up on local, regional and international economic affairs. It also aims to highlight the role of the Libyan banking system in economic activity with a diagnosis of the reality of the banking system and the role of non-banking financial institutions supporting the banking system to draw a future vision for development.
The conference activities will focus on the following themes:
Section 1 – The banking system and economic activity:
- The economic role of Libyan banks.
- The banking system’s relationship with economic activity.
- The relationship of the banking system to the money market.
- Experiences of global banking systems and lessons learned.
Section 2 – Banks and non-banking institutions operating in Libya:
- The reality of the banking system in Libya.
- Banking laws and legislation governing in Libya.
- The role of financial inclusion in achieving stability and economic growth in Libya.
- The role of non-banking institutions in supporting the Libyan banking system.
Section 3 – Recent technical developments and the Libyan banking system:
- The role of various technical developments in developing the Libyan banking system.
- The role of digital transformation in developing the Islamic financial industry in Libya.
- Digitizing the services of the banking industry to enhance digital financial inclusion.
- Risks associated with electronic banking services and their implications.
Section 4 – The future vision towards development:
- The foundations and controls that govern the advanced banking business.
- Banking work programs during periods of development and adoption of new policies.
- Mechanisms for activating the money market in the national economy.
- Principles and controls for the development of Islamic financial products and services.
Speaking exclusively about the conference to Libya Herald today, Dr. Fakher Bufarna, the former Minister of Planning in the Abd Alhamid Aldabaiba Tripoli government, Professor of Economics at the University of Benghazi, and a member of the conference organizing committee, said that holding such a conference gives an opportunity for specialists to discuss how to develop the banking sector in Libya.
He said the committee set criteria, terms and conditions to ensure the quality of research and joint studies, including the close link of the research presented to the topic and themes of the conference, and that the research takes into account the generally accepted foundations and rules of scientific research.
Bufarna referred to the most important targets of the conference, headed by workers and specialists in the banking sector and stock markets, members of the boards of directors of commercial banks, oversight committees, ministries and relevant government agencies, academics and faculty members in universities and higher institutes.