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CBL and the IMF discuss developments in the banking sector.

Pulbished on:

Tunisia, May 04, 2024 (LANA) - Discussions were focused on the article 4 consultations for the year 2024 between the Central Bank of Libya team and the International Monetary Fund expert mission in regard to  the development in the banking sector, banking services, and the extent of banks’ response to the Central Bank’s instructions and directives.

According to the Central Bank on Saturday, the consultations also dealt with identifying and expanding digital transformation plans for the year 2024, by listening to the presentations submitted by the Director General of the National Commercial Bank and the Director General of Al Nouran Bank.

Article Four of the Agreement Establishing the International Monetary Fund stipulates the holding of bilateral discussions with member countries, which usually take place on an annual basis. A team of Fund experts visits the member country, collects the necessary economic and financial information, and holds discussions with officials about economic developments and policies in the country.