Central Bank of Libya Introduces Million-Dinar Corporate Transfer Service.

Tripoli: The Central Bank of Libya announced the launch of a new service allowing transfers between companies with a maximum limit of one million dinars per transaction. This initiative aims to facilitate and enhance the efficiency of corporate financial operations within the country. According to Libyan News Agency, the Central Bank of Libya stated that the introduction of this service is part of its ongoing efforts to expand electronic payment services. This aligns with the strategic plan outlined by the bank to modernize and streamline financial transactions across various sectors. In addition to the new corporate transfer service, the Central Bank has also increased the transaction limits for immediate payments. For individuals, the ceiling has been raised to 20,000 dinars per transfer. Meanwhile, merchants can now conduct single purchase transactions up to 100,000 dinars. These measures are expected to provide more flexibility and convenience for both consumers and businesses engaging in financial acti vities. The Governor of the Central Bank convened meetings with department directors, the liquidity team, and general managers of banks. The discussions focused on addressing the ongoing cash liquidity shortage crisis, aiming to develop solutions that would address the issue both gradually and comprehensively.