Latest news with #NationalStrategyforFinancialInclusion
Libya Herald
01-08-2025
- Business
- Libya Herald
CBL introduces the state sector Instant Salary Payment System
The Central Bank of Libya yesterday announced the launch of the 'Your / Instant Salary Payment' system to transfer the salaries of public sector employees directly into their bank accounts. The system adopts automatic matching of the data of employees at the Ministry of Finance and the Banking Information and Systems Authority without the need for traditional (slower) payment methods. The bank confirmed that it is working to complete the technical link with commercial banks and the personal data system, calling on citizens to ensure that their data is up to date to ensure the readiness of the service by the end of August. It will be recalled that the payment of state-sector salaries is routinely late by one or two months. General Information Authority welcomes move as part of wider digital transformation The General Information Authority expressed its appreciation for the efforts of the Central Bank of Libya and the Ministry of Finance in their pivotal role in supporting digital transformation through this move. The General Information Authority commended what it called the advanced approach taken by Finance Ministry in adopting digital solutions, which contributes to advancing the digital transformation paths and achieving inter-integration between state institutions. It added that the launch of the Instant Salary Payment system is a prominent example of this integration, as it integrates with other systems such as the LY-NDEX and LY-DNID, which will enable the instantaneous payment of salaries directly to employees' accounts in a secure and efficient manner, through the instant payment network. This integration, it continued, reflects the maturity of Libya's digital infrastructure and promotes the process of building an interconnected and efficient digital government. . Customs Authority implements digital transformation through pilot project for customs declaration e-portal Libyan Digital Lab visits Paris to learn about France's digital transformation 'Digital Lab' training to support Libya's digital transformation and innovation launched Commercial Registry and General Information Authority receive UNCTAD training on digital transformation General Information Authority announces establishment of 'Digital Lab' and oversees digital transformation roadmap Libya to launch digital transformation project: Finance Minister Mabrouk Economy Ministry has begun to implement its digital transformation plan CBL Governor Issa launches transformational financial projects, including National Strategy for Financial Inclusion Follow up on project to make Libya a global digital centre Tags: CBL Central Bank of Libyadigital transformationstate sector salaries
Libya Herald
16-06-2025
- Business
- Libya Herald
CBL Governor Issa launches transformational financial projects, including National Strategy for Financial Inclusion
The Governor of the Central Bank of Libya, Naji Issa, announced the launch of the National Strategy for Financial Inclusion and several other transformational projects during the opening of the Electronic Payment Forum and Exhibition ''EPAIX'' 2025 yesterday. The forum is being held from 15 to 17 May at the Tripoli International Fairgrounds. During his opening speech at the forum the CBL Governor announced that the National Strategy for Financial Inclusion in Libya 2025-2029 represents a national, ethical and professional commitment towards all segments of society. The Governor stressed that the strategy, prepared by the Central Bank with national competencies, aims to provide secure, affordable, and easily accessible financial services, with strict protection of personal data. He also announced the launch of several accompanying major projects, most notably: • Financial inclusion accounts project targeting financially excluded groups • Banking data protection system to ensure the confidentiality and privacy of individuals' information • Supporting the digital transformation of the country by fully digitizing government payments • Localization of foreign exchange payment infrastructure under the supervision of the Central Bank • Preparing a legal and technical framework for working with digital and cryptocurrencies • Launch of the digital banking identity to facilitate electronic transactions • Providing internal financial transfers through a national platform without the need for a bank account. The Governor concluded his speech by stressing that these projects pave the way for a modern, fairer and more inclusive digital economy that enhances financial stability and development in Libya. Tags: CBL Central Bank of LibyaCBL Governor Naji Issae-payment e-payments
Iraqi News
25-05-2025
- Business
- Iraqi News
Central Bank Launches the First National Strategy for Financial Inclusion
The Central Bank of Iraq announced today, Sunday, the launch of the initial National Strategy for Financial Inclusion for the period 2025-2029. The bank said in a statement received by the Iraqi News Agency (INA): "The initial National Strategy for Financial Inclusion for the period 2025-2029 has been launched." "The strategy includes an integrated framework for financial inclusion aimed at enabling all individuals and businesses to access the financial sector and use appropriate and safe financial services while protecting their rights, thus contributing to economic and social development." Central Bank Governor Ali Mohsen Al-Alaq affirmed, according to the statement, that "the Central Bank of Iraq attaches great importance to promoting financial inclusion in Iraq, as well as cooperation at the regional, Arab, and international levels. The Central Bank of Iraq has worked with international partners to develop a financial inclusion strategy in accordance with international best practices, in partnership with the World Bank Group, the Arab Monetary Fund, the Global Financial Inclusion Alliance, and the German Development Cooperation Agency (GIZ), as well as local partners from public and private bodies and agencies." According to the statement "the bank is working to achieve a number of goals, including increasing the percentage of bank accounts, enhancing consumer protection for those dealing with the financial sector, using the latest electronic payment methods, and developing infrastructure and regulations to promote financial inclusion."
