Central Bank of Libya seeks to expand global banking ties

Naji Mohamed Issa, Governor of the Central Bank of Libya (CBL), held a series of high-level meetings in London to advance the country’s banking reform and modernization programs. During discussions with representatives from the Arab Bankers Association and various international financial institutions—including Morgan Stanley, BNY, and the National Bank of Egypt—the Governor focused on expanding correspondent banking channels and strengthening ties with global financial networks.

Key topics included digital transformation, electronic payments, and the implementation of an instant salary payment initiative. The talks also addressed the need to update governance, compliance, and risk-management frameworks to align Libya’s banking sector with international standards.

In addition to banking sector discussions, Governor Issa met with Professor Deniz Igan, the Chief Economic Adviser at the UK Foreign Office, to discuss macroeconomic updates and challenges. The meeting emphasized efforts to unify public spending and improve anti-money laundering and counter-terrorism financing (AML/CFT) measures. Governor Issa also met with Bank of England Governor Andrew Bailey to discuss further cooperation and the exchange of expertise to support Libya’s economic resilience.