Tripoli based Libyan Prime Minister, Abd Alhamid Aldabaiba, and Central Bank of Libya (CBL) Governor Issa, discussed what the government described as priority economic and financial issues during a meeting at the CBL’s Tripoli headquarters yesterday.
Reducing corruption and enhancing transparency
At the beginning of the meeting, the Prime Minister commended the launch of the new “Your Instant Salary” state-sector salary payroll system, developed in cooperation between the CBL and the Ministry of Finance. He emphasized that work is underway to complete and develop it, considering it an important tool for reducing corruption and enhancing transparency.
1.1 million salaries out of 2 million reconciled
For its part, the Central Bank confirmed that the number of state-sector salaries transferred to it through the new system has exceeded two million employees, while the number of reconciliations completed to date has reached approximately 1.1 million employees.
Foreign currency stability
The meeting also reviewed the CBL’s efforts to control the sale of foreign currency (FX) by regulating the licensing of FX companies. In this context, Aldabaiba directed the need to enhance joint coordination within the credit system to determine market needs and contribute to controlling FX demand to achieve financial stability (of the Libyan dinar against the hard currencies).
Prioritising industrial and production financing rather than consumer financing
The meeting emphasized the adoption of a joint strategy to prioritize industrial and production financing and limit the expansion of consumer financing, thus contributing to supporting the national economy and stimulating sustainable job opportunities.
LD 140 billion e-payments up to July 2025
Regarding digital transformation, the Central Bank of Libya revealed that the value of electronic transactions exceeded 140 billion dinars in just seven months, stressing that this expansion reflects citizens’ confidence in electronic payment systems and reinforces the government’s efforts to reduce reliance on paper money.
