The second annual Libyan Banking Conference on Compliance kicked off in the Capital, Tripoli, on Monday under the supervision of Libya's Central Bank (CBL) and in cooperation with the Arab Banking Corporation "Bank ABC."

The conference featured a host of officials working in the banking sector, including directors of the CBL departments and representatives of the Arab Banking Corporation from Bahrain, the United Kingdom, Tunisia, and Libya, besides officials from the Libyan commercial banks, sovereign investment funds, and electronic payment companies.

Launching the event was Governor Saddek Elkaber of the CBL, who highlighted the bank's efforts towards developing compliance systems according to best practices and international standards in terms of combating financial crimes and risk assessments for money laundering and terrorist financing.

The conference serves as a platform for Libyan, regional, and international banks to share experiences, discuss how best to combat financial crimes, and enhance the capabilities of Libyan banks in applying international compliance standards, the CBL governor added.

High on the conference's agenda were challenges facing Libyan banks in the field of compliance and best practices for combating financial crimes.