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The Governor of the Central Bank of Libya discusses enhancing mutual cooperation with the Governor of the Reserve Bank of India

Pulbished on:

New Delhi, October 19, 2026 (LANA) – The Governor of the Central Bank of Libya, Naji Issa, met this Monday morning with the Governor of the Reserve Bank of India, Sanjay Malhotra, on the sidelines of the international forum for central banks, "SAMVAD 2026." The forum, organized by the Reserve Bank of India in New Delhi on October 19–20, 2026, is attended by various central bank governors.

The meeting addressed prospects for cooperation between the two central banks, including the exchange of expertise in developing payment and settlement systems, promoting financial inclusion, and leveraging India’s experience in expanding the use of digital financial services and developing banking infrastructure.

Both sides discussed ways to streamline banking procedures and trade-related payments between the two nations. This is intended to facilitate the flow of goods and services and expand economic cooperation, noting that the volume of trade exchange reached approximately $1.33 billion in 2025.

The two officials also explored opportunities for collaboration in training and capacity building—specifically in banking supervision, risk management (with a focus on cybersecurity risks), and the application of artificial intelligence within the financial sector. Furthermore, they exchanged views on monetary policy challenges and the maintenance of financial stability.

Governor Issa outlined the Central Bank of Libya’s efforts to develop electronic payment systems, expand access to banking services, and strengthen governance, compliance, and anti-money laundering and counter-terrorism financing (AML/CTF) measures. He emphasized the importance of technical cooperation and the exchange of experiences to support the modernization and increased efficiency of the Libyan banking sector. The two sides agreed to launch a program for knowledge transfer and the exchange of expertise, focusing on developing technical infrastructure, strengthening cybersecurity, and protecting financial systems—all in light of the rapid evolution of artificial intelligence technologies and the growing landscape of cyber threats.

The program includes sending personnel from the Information Technology and Information Security departments of the Central Bank of Libya to receive specialized training in India. This initiative aims to build a qualified technical team, enhance its capacity to anticipate and counter intrusion attempts, and ensure the security and continuity of banking services.