Benghazi to Host Electronic Payment Forum and Exhibition in December

Benghazi Chamber of Commerce held a press conference yesterday at its city headquarters to announce the launch of the Libya Forum and Exhibition for Electronic Payment Services‎

‎Benghazi Chamber said this comes in light of the government's directions towards digital transformation and in line with its strategy to promote the digital economy and develop modern payment systems.

‎The forum, it added, aims to support the country's directions towards digital transformation and promote the culture of electronic payment among various sectors, in a way that contributes to the development of the national economy and improves the quality of financial services in Libya‎

It will be recalled that a similar e-payments forum was held in Tripoli from 15 to 17 June this year. It will also be noted that there has been a concentrated drive by authorities, led by the Central Bank of Libya, to increase the use of e-payments across the country.

Upon instructions by authorities, Council Police has been closing some shops found during unannounced inspections not providing customers with e-payment/POS facilities.

Part of the CBL’s wider policy reform
The CBL move is part of a wider policy to reduce the use of cash, reduce money laundering, reduce the grey economy and tax evasion, reduce demand for the US dollar in the black-market, strengthen the Libyan dinar, and ingrain the culture of e-payments in the Libyan psyche away from the cash economy.

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