CBL discusses global e-commerce payment services, including PayPal

banking - September 16, 2021

As part of the follow-up to the implementation of the strategy of the Central Bank of Libya to develop the electronic payments market, Saddek Omar El-Kaber, Governor of the Central Bank of Libya (CBL), held a meeting on Tuesday in his office with the directors of the concerned departments of the bank and some of the bank’s advisors.

During the meeting, the CBL reported, ways to develop the electronic gateway for payment in foreign currencies, which allow customers to use the various payment methods available through global e-commerce sites in foreign currencies, including the PayPal service, were discussed.

The meeting also touched on the position of trading clearing instruments between banks and the extent of their commitment to accepting the instruments among them without any obstacles.

Emphasizing the need for banks to abide by the instructions of the Central Bank of Libya in this regard, the meeting also dealt with following up on the implementation of the Central Bank’s plan to provide liquidity in all bank branches across the Libya.