Banking expert Misbah Al-Akari wrote an article discussing the positive figures released today by the Central Bank, highlighting key payment trends over the past 10 months:
- Payments by Checks: 85.5 billion dinars
- Payments via Electronic Payment Tools (Apps and Cards): 93 billion dinars
- Cash Payments: 52.8 billion dinars
- Total Financial Value: 231.3 billion dinars
- Payment Methods Breakdown:
- 40% via Electronic Payment Tools
- 37% via Checks
- 23% via Cash
The article emphasizes the positive trend of electronic payments, which constitute the highest share. The total number of POS terminals has reached 70,000, with 4.7 million activated cards, and 110 million transactions carried out worth a total of 18.2 billion dinars. Additionally, the number of banking app users has risen to 2.9 million, with transaction values reaching 74.8 billion dinars.
These statistics highlight significant progress in digital transactions in Libya, particularly after the transition of the National Distributor from a transaction company to the Central Bank. The year 2025 is expected to be pivotal for the country’s digital transformation. The article also calls for increased participation from the Libyan community, including individuals, traders, and artisans, in this national strategic project.
Al-Akari also recommends that the Ministry of Economy require businesses to accept electronic payment tools when applying for trade licenses and urges municipal inspection authorities to penalize shops lacking such tools.
He concludes by expressing appreciation for those contributing to Libya’s shift from cash reliance to the benefits of electronic payments.
