Cyber Libya

The Central Bank of Libya (CBL) has received the final report of the Cyber Libya project, which aims to develop a legislative package for digital transformation and investment in cyberspace.

The bank said in a statement that the head and members of the Cyber Libya team reviewed the final project's outcomes during a meeting on Thursday.

The United Nations Commission (ESCWA) is the strategic partner for the project, in cooperation with several national institutions and international experts, the CBL noted.

In December 2022, the Cyber Libya project team held extensive discussions in the Egyptian capital, Cairo, in partnership with the Central Bank of Egypt, the ESCWA Committee, and experts in the field of law, electronic payment, information security, risk management, and electronic marketing, with the participation of leading institutions in the cyber and financial areas.

The project, launched about 16 months ago, notably works to set up a legislative structure for electronic transactions, which would pave the way for safe investment in the cyber field.