The Governor of the Central Bank of Libya, Naji Issa, held a meeting last Tuesday (15 July) in his CBL Tripoli office with several general managers of commercial banks and representatives of accredited e-payment companies, in the presence of several directors of the competent departments of the Central Bank.
The meeting came within the framework of following up on the general performance of the use of e-payment tools, instant payment services, and reviewing the most prominent indicators, developments, and challenges.
Specifically, the meeting discussed enhancing electronic payment services, improving the quality of banking services, following up on the performance of banks and e-payment companies in keeping pace with the digital transformation plan.
Significant growth in e-transactions since 2024
During the meeting, the participants reviewed e-payments indicators and statistics, which the CBL reported clearly showed a significant improvement and ”a remarkable and encouraging” growth in the volume of electronic transactions during the first half of the year.
Success of the CBL’s plan for gradual digital transformation
The CBL reported that the number of points of sale (POS) increased by 92% and the number of e-transactions by 75% compared to the first half of 2024, reflecting the escalation of reliance on modern payment methods among citizens and the private sector, and the success of the CBL’s plan for gradual digital transformation.
The meeting discussed the preparations required to expand e-payment services to include other sectors such as health, education and transportation, and labour and rehabilitation, in the next phase.
Raising money transfer ceilings
In conclusion, the Governor directed the encouragement of the expansion of e-payment services by raising the ceilings of money transfer as part of the strategy to encourage the instant payment service.
Consolidating culture of e-payments
Additionally, he stressed the importance of continuing to facilitate access to these services, evaluate and update performance periodically, to ensure keeping pace with rapid developments, and further consolidating the culture of electronic payment as a basic and safe option for all segments of society.
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