The Central Bank of Libya said Gov. Naji Mohammed Issa and his delegation met officials from the International Monetary Fund's Legal Department in Washington to discuss stronger technical and legal cooperation. The main outcome was an agreement for the IMF to provide specialized support to Central Bank teams preparing initial drafts of key laws and regulations, centered on anti-money laundering and counterterrorist financing, banking law and electronic payments licensing. The legal work identified by the Central Bank covers a draft Anti-Money Laundering and Combating the Financing of Terrorism law aligned with Financial Action Task Force standards, an update to Banking Law No. 1 of 2005 as amended by Law No. 46 of 2012 to reflect modern governance and banking supervision requirements, and revised licensing rules for electronic payment companies tied to digital transformation, financial inclusion and cybersecurity standards. Next steps will involve IMF support for the technical and legal teams formed by the Central Bank of Libya to prepare the initial drafts of these laws and regulations.
Central Bank of Libya2026-04-14
Central Bank of Libya agrees IMF technical support for AML CFT banking and electronic payments legal reforms
The Central Bank of Libya said it agreed with the International Monetary Fund on specialized technical support for draft financial sector legal reforms. The work will focus on a FATF-aligned AML CFT law, updates to the banking law and revised licensing rules for electronic payment companies. IMF support will go to Central Bank technical and legal teams preparing the initial drafts.