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LANA Libyan-Chinese agreement on Libyan banks joining the cross-border payments system and launching the joint banking forum

Libyan-Chinese agreement on Libyan banks joining the cross-border payments system and launching the joint banking forum

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Tripoli, July 16, 2026 (LANA) – The Central Bank of Libya and the People’s Bank of China reached a formal agreement for Libyan banks to join the Cross-Border Interbank Payments System (CIPS). They also agreed to diversify Libyan investments by accessing the Chinese bond market. Furthermore, the two sides agreed to launch the first Libyan-Chinese Banking Forum in early 2027, a move aimed at strengthening financial and banking cooperation between the two countries.

The agreement was reached during talks held by the Governor of the Central Bank of Libya, Naji Issa, with the Governor of the People’s Bank of China, Pan Gongsheng, in Beijing.

The Central Bank of Libya explained on its official page today, Thursday, that the discussions addressed prospects for enhancing financial and banking cooperation between Libya and China, and developing the institutional partnership between the two central banks. This partnership aims to support the development of the financial sector and enhance its ability to keep pace with global economic changes.

Both sides affirmed that the participation of Libyan banks in the CIPS system will contribute to facilitating commercial and financial transactions, streamlining payment and transfer operations between the two countries, increasing the efficiency of financial transactions, enhancing trade flow, and supporting the business communities in both Libya and China. The Governor of the People’s Bank of China welcomed the agreement to diversify Libyan investments through access to the Chinese bond market. He affirmed his country’s support for the Central Bank of Libya’s efforts to diversify its investment portfolio and enhance the efficiency of its reserve management, while encouraging the expansion of investment sectors to contribute to the growth of trade and investment between the two countries.

The two sides also discussed ways to benefit from the Chinese experience in developing the financial sector’s infrastructure, digital payment systems, and modern financial technologies. This would support the Central Bank of Libya’s efforts to modernize banking services and improve their operational efficiency in accordance with best practices and international standards.

Both sides emphasized the importance of continuing coordination, exchanging expertise, and strengthening institutional cooperation between the two central banks. This would broaden the horizons of economic and financial cooperation and solidify a deeper and more sustainable strategic partnership.

At the conclusion of the talks, the two sides agreed to launch the first Libyan-Chinese Banking Forum, to be held on the sidelines of the China-Africa Forum in early 2027. The forum will serve as a platform bringing together banks and financial institutions from both countries, enhancing investment partnerships and cooperation opportunities in the financial and banking sectors.

...(LANA)...