Latest news with #NagyIssa
Libya Observer
3 days ago
- Business
- Libya Observer
Libyan committee reviews FATF compliance and risks to financial system
The National Committee for Combating Money Laundering and Terrorism Financing convened on Monday at the Central Bank headquarters in Tripoli. The meeting, chaired by Central Bank Governor Nagy Issa, brought together representatives from various relevant national institutions. Discussions focused on Libya's preparedness for the upcoming mutual evaluation by the Financial Action Task Force (FATF). The committee reviewed international reports assessing the Libyan situation and highlighted the risks to the country's financial system stemming from the lack of a comprehensive legislative framework that meets global standards for anti-money laundering and counter-terrorism financing. Participants also examined reports from international counterparts concerning money laundering and terrorism financing activities linked to Libya. Additionally, the committee reviewed the progress of the team responsible for implementing the national strategy, discussed key challenges and obstacles, and explored the necessary steps to effectively meet the strategic goals in this critical domain. Economy Tagged: Financial Action Task Force
Libya Observer
03-07-2025
- Business
- Libya Observer
CBL discusses support for boosting daily oil output by 247,000 barrels
Libya's Central Bank (CBL) Governor, Nagy Issa, held an extensive meeting on Wednesday with National Oil Corporation (NOC) Chairman Masoud Suleiman to discuss ways of supporting efforts to raise the country's daily oil production by approximately 247,000 barrels. According to a statement on the Central Bank's official Facebook page, the proposed increase is expected to generate an additional $6 billion annually. The bank said this would enhance its ability to meet foreign currency demand, maintain the strength of the Libyan dinar, and support broader economic stability. During the meeting, the NOC presented a visual briefing on its oil production improvement plan for 2025 and 2026. The bank added that both sides emphasized the importance of continued coordination through bilateral meetings to secure necessary financial resources for planned projects, using both domestic and international funding channels, including the Libyan Foreign Bank and several international financial institutions. The meeting, held at the CBL headquarters in Tripoli, was attended by senior officials from the Central Bank, the Libyan Foreign Bank, and the NOC. Tags: Central bank of Libya National Oil Corporation oil production
