The Governor of the Central Bank of Libya (CBL), Al-Siddiq Al-Kabir, kick-started on Monday morning in the capital, Tripoli, the “Forum for Innovation and Digital Transformation in Financial Services,” which the CBL organized in cooperation with the Arab Banking Corporation.

Al-Kabir stressed during his speech that the establishment of the Financial Technology and Innovation Unit in the Central Bank of Libya aims to achieve rapid and sustainable development of the banking sector, indicating that the Financial Technology Unit seeks to be a leader in this field, especially in the field of improving customer service and accelerating electronic payment processes, as well as digital transformation and enhancing innovation in banking services.

The governor has pointed out that this forum represents an opportunity for private sector companies to benefit from the financial technology and innovation unit, as it will provide solutions that better meet customer needs. He also confirmed that the Central Bank of Libya supports the initiatives (Know Your Customer - Instant Payments - Open Banking Services) by establishing a laboratory for financial technologies with the aim of making a change by experimenting with advanced modern technologies and innovative ideas.