The Central Bank of Libya reviewed electronic payment expansion with service providers, focusing on technical barriers and stronger connectivity. Governor Fauzi Abokhzam emphasized cybersecurity compliance, business continuity and operational risk management. He also called for better service standards and broader coverage to reduce reliance on cash.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsOperational risk and resilienceFinancial inclusion
The Central Bank of Libya reviewed progress in expanding electronic payments and technical obstacles affecting service delivery at a meeting led by Governor Fauzi Abokhzam with payment service providers and Moamalat Company. The discussions continued its focus on payment infrastructure and operational readiness. A September review had reported gross electronic payment transactions of about LYD 764.9 billion from Jan. 1 through Aug. 31, 2026.
Discussions focused on strengthening infrastructure and technical connectivity among providers to speed up transactions, improve operational efficiency and promote competition. Abokhzam stressed compliance with cybersecurity requirements, business continuity and stronger operational risk management. He also called for higher service standards and wider coverage across regions and sectors to support financial inclusion and reduce reliance on cash.
The Central Bank of Libya reviewed cash liquidity, regulated access to foreign currency and the continued expansion of electronic payments. Gross electronic payment transactions reached about LYD 764.9 billion from Jan. 1 through Aug. 31, 2026, while the central bank pressed banks to improve operational readiness, compliance and service delivery.
The Central Bank of Libya used a meeting with banks and payment companies to review the national electronic payments system, with a focus on reliability, infrastructure and service continuity. It also assessed progress on foreign currency Visa payments through domestic POS terminals, discussed wider use of electronic wallets and stressed stronger…
The Central Bank of Libya announced, at the opening of EPEX 2026, the launch of Visa card acceptance on local POS terminals, SoftPOS technology and a National Stand-In Processing Service project. The measures are aimed at expanding electronic payments, reducing cash use and improving the resilience of Libya’s payments infrastructure.