Central Bank of Libya (CBL) Governor Naji Issa met on Monday with general managers of several commercial banks and representatives of electronic payment companies to discuss ways to improve the efficiency of payment systems and strengthen their technical infrastructure to reduce service disruptions and ensure uninterrupted operations.
The meeting, held at the CBL headquarters and attended by directors of the relevant departments, reviewed progress on implementing the project to enable foreign currency Visa card payments through local point-of-sale (POS) terminals, as part of efforts to diversify available payment methods.
Participants also discussed expanding the use of electronic wallets to reduce reliance on cash transactions and promote financial inclusion, while directing efforts toward encouraging foreign workers to benefit from these services.
The meeting further examined the results of an assessment of electronic payment companies’ compliance with the Central Bank’s technical and regulatory standards, as well as the challenges facing the sector and ways to address them.
Officials also stressed the need to give top priority to cybersecurity systems and enhance the digital infrastructure of banks to counter cyber threats and risks, ensuring the security of banking systems and the protection of customer data.
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