The Governor of the Central Bank of Libya (CBL), Naji Issa, announced three strategic initiatives to build a stronger and more effective Libyan banking sector at the 6th Banking Sector Development Forum being held in Tunis from 7 to 9 December.
Issa’s speech was delivered on his behalf by the Director of the Research and Statistics Department at the Central Bank of Libya, Ali Abu Salah.
In his speech, the Governor emphasized the importance of this forum in supporting the banking sector before announced the launch of three strategic initiatives to build a stronger and more effective Libyan banking sector.
1-The National Advisory Team for Financial and Economic Reform
These initiatives include the formation of a National Advisory Team for Financial and Economic Reform, comprising a select group of Libyan bankers and experts, to provide technical advice and formulate future financial and economic policies.
2-The “Zero Cash” initiative
The second initiative, as part of its efforts to address liquidity challenges and enhance financial inclusion, the CBL announced its full support for the “Zero Cash” initiative. This initiative aims to accelerate digital transformation by guiding 100 major companies towards eliminating cash transactions and fully transitioning to electronic payments, while providing the necessary incentives to ensure the success of this important step.
The speaker said this initiative is in line with the CBL’s National Financial Inclusion Strategy 2025–2029, which aims to provide safe, easy and accessible financial services for all through digitization and the development of an integrated digital financial infrastructure, thereby promoting the building of a sophisticated digital economy capable of supporting stability and development in Libya.
3-The Excellence in Banking Performance Award
Finally, the Central Bank of Libya also approved the launch of an Excellence in Banking Performance Award for individuals and institutions, in recognition of professional excellence and innovation in the banking sector.
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The 6th Banking Sector Development Forum will be held in Tunis from 7 to 8 December
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