The Central Bank Board of Directors approves the activation of the clearing system between Tripoli and Benghazi

Tripoli, November 10, 2024 (LANA) - The Board of Directors of the Central Bank of Libya approved, on Sunday, the activation of the unified clearing system between the bank's branches in Tripoli and Benghazi, which enables banks to use their balances in full.

The bank said - in a statement following the first meeting of its Board of Directors today in Tripoli - that this step comes within its plan to work to accelerate and improve the quality of banking services.

The statement added that the Board of Directors also approved the adoption of the Libyan banking sector governance guide to be more comprehensive and responsive to international standards, within the framework of keeping pace with developments witnessed by governance requirements at the level of local and international banking work.

The Bank's Board of Directors decided to continue taking appropriate measures and procedures to support the value of the Libyan dinar, which enhances the purchasing power of the dinar and contributes to reducing the general level of prices.

The Council also decided to authorize the Governor to take the necessary legal measures and procedures to expedite and facilitate the payment of salaries on time, and any other bottlenecks in order to ensure that the disbursement of state salaries on time is not delayed.

The Board of Directors approved the transfer of the national distributor to the Central Bank of Libya and authorizing the Governor and his deputy to take the necessary measures in this regard within the framework of supporting the procedures and plan of the Central Bank to provide liquidity to all bank branches and in implementation of the bank's strategy to develop the electronic payment process.

The Board of Directors of the Central Bank of Libya held its first meeting today, Sunday, with the attendance of all its members for the first time in 10 years.

..(LANA)..