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Al Bayda’s Central Bank to digitize system

A meeting will be held in the upcoming period by the Central Bank of Libya in Al-Bayda, eastern Libya, to discuss means to digitize the bank’s commercial and financial system and establish an e-payment mechanism, said the bank’s Governor Ali Al-Habri on Wednesday.

This came during a Tuesday meeting by Habri and businessmen to discuss how Libya’s private sector could be developed.

The meeting was attended by Minister of Economy and Industry of the Libyan Interim Government, Mounir Ezer, and the bank’s Adviser Lamp Akkari to achieve the economic and financial development in Libya and draw up legislations to regulate the private sector.

Meanwhile, Libya witnesses positive economic indicators in the current fiscal year as the budget deficit is expected to drop to 0 percent, oil production is improving, and inflation rate is decreasing, said the Governor of Libya’s Central Bank, Saddek el-Kaber in October.

Entitled “Building Bridges Together,” the event was attended by business representatives from Libya and the U.K. Kaber, Deputy Head of Libya’s Presidency Council Ahmed Maetig, and British ambassador to Tripoli Frank Baker.

He remarked that documentary credits are continually granted for the supply of goods to support the private sector. The Central Bank also supports state institutions including oil and electricity institutions to improve service quality provided to citizens.

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