The 2nd Business Technology Banking Forum will be held from 18 to 20 December in Tripoli, sponsored by the Central Bank of Libya, with the participation of several local and foreign banks, insurance companies, information technology and communications companies, and financial services companies, and organized by Dana Exhibition Organizing Company.
In an exclusive statement to Libya Herald about the forum and its objectives, the Chairman of the Conference Organizing Committee, Hakim Gadoura, said that the importance of the forum lies in considering it a unique opportunity to benefit from the exchange of experiences between officials and experts specialized in the banking field at the local, regional and international levels.
It is to help to raise the efficiency of the Libyan banking system and keep pace with rapid developments globally, the most important of which are developments in the field of financial technology.
Learn about the latest technical developments
Gadoura stressed that the forum is an opportunity to shed light on the banking economy and its advantages, introduce the most important services developed in international banks, and meet the desire of those interested, workers and investors in the banking sector to learn about technical development in the banking and financial sector. It is also to provide them with all information related to these new economic systems, through several events and activities based on interaction and discussion between clients and invitees.
Banks working hard to improve services
He stressed that Libyan banks are capable of keeping pace with development in business technology and using the latest banking and financial technologies to ensure that they provide the best services to their customers. There is, he added, serious work in many local banks to improve the level of their services by using advanced technologies and by increasing the capabilities of their employees.
Libyan banks face several challenges
Gadoura pointed out that the banking system in Libya faces several challenges because of financial openness and banking liberalization and the great development of foreign bank services, which call for removing restrictions and barriers from banking activities. This, he explained, has made Libyan banks fall a step behind foreign banks, making reform an absolute necessity.
Libyan banks have appropriate strategies
Nevertheless, he said Libyan banks have appropriate strategies to confront these challenges with the aim of ensuring their survival and growth. Perhaps one of the most important options that can be taken to rehabilitate the banking sector and keep pace with developments in the banking industry is to provide the necessary infrastructure. This is to improve various electronic services in Libyan banks, through the establishment of payment bodies and systems and the adoption of many electronic services.
Within the framework of all of this, he said this event aims to answer a major question: What is the reality of the infrastructure for electronic transactions in Libyan banks, and what are the challenges they face?