The Central Bank of Libya and the U.S. Federal Reserve discuss enhancing cooperation and solidifying international confidence in the banking sector.

Bangkok, October 13, 2026 (LANA) – The Governor of the Central Bank of Libya, Naji Mohamed Issa, and his accompanying delegation met today, Tuesday, with an official delegation from the U.S. Federal Reserve. The meeting took place on the sidelines of their participation in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, held in Bangkok, Thailand.

The meeting addressed the latest economic and financial developments in Libya and the exceptional challenges facing the Central Bank of Libya under current circumstances. Discussions also covered efforts to maintain monetary and financial stability, as well as ways to enhance cooperation and coordination with U.S. financial institutions. Furthermore, the parties discussed measures to bolster the reputation of the Libyan banking sector and solidify confidence in its dealings with international financial and banking institutions.

The meeting also included a review of the results of joint work between K2 Integrity and the Central Bank of Libya’s team aimed at strengthening financial transaction screening and auditing procedures, as well as monitoring suspicious transactions linked to requests for covering letters of credit. Additionally, the parties considered expanding the scope of the review and screening team's work—in cooperation with all relevant local and international stakeholders—to help raise levels of transparency and compliance and curb illicit practices that had previously compromised the integrity of financial transactions. The two sides discussed challenges associated with cross-border goods smuggling and the circumvention of trade and banking regulations, as well as the resulting impact on the national economy and the foreign exchange market. They also reviewed measures taken by the Central Bank of Libya to upgrade its anti-money laundering and counter-terrorism financing (AML/CFT) framework and to strengthen oversight and compliance mechanisms in line with international standards and best practices.

The U.S. Federal Reserve delegation commended the Central Bank of Libya’s efforts to improve the reputation and international credibility of the Libyan banking sector. They praised the Bank’s success in resuming foreign currency supplies to Libya after a years-long hiatus, as well as the commercial banks' successful distribution of these funds to citizens across the country—conducted in an organized manner and without reported irregularities. This success reflects the notable improvement in the banking system's efficiency and its capacity to execute large-scale financial and logistical operations.

The delegation emphasized the importance of continued cooperation and support for the Central Bank of Libya in fulfilling its mandate and achieving its reform objectives. Particular focus was placed on enhancing governance and transparency, and addressing the shortcomings and unsound practices that had accumulated within the financial system over recent years—steps essential to ensuring the soundness of the Libyan banking sector and fostering its integration into the global financial system.

This meeting aligns with the Central Bank of Libya’s strategy to expand relations with international monetary and financial institutions, boost confidence in the Libyan banking sector, and advance the reforms necessary to safeguard the state's financial and monetary stability.