A member of the Central Bank’s Monetary Policy Committee, Dr. Ayoub Al-Farsi, wrote: “The 80 Billion Leap: Instant Transfers Drive Libya’s Digital Transformation.”
In a scene reflecting a fundamental shift in the culture of financial transactions in Libya, recent data revealed unprecedented record figures in the volume of instant transfers through the LYPay and OnePay systems. The total value of transfers during the first quarter of 2026 reached approximately 80 billion Libyan dinars, marking a significant leap compared to 73 billion dinars for the entire year of 2025.
Indicators of Digital Growth (2025–2026)
This growth, estimated at around 10% within just three months, is not merely statistical—it signals the success of the financial inclusion strategy adopted by the Central Bank of Libya. The importance of this increase is reflected in several key areas:
- Public trust: The total number of executed transactions has surpassed millions, indicating growing confidence among individuals and merchants in the security and speed of digital solutions.
- Liquidity efficiency: Reaching this volume of transfers has reduced reliance on cash, easing the long-standing pressure on commercial bank branches.
- Institutional integration: Successful coordination between the Central Bank and commercial banks in gradually raising transfer and purchase limits has enabled larger amounts to flow through instant channels.
Economic Impact: From Bottleneck to Stability
Reaching 73 billion dinars in just three months means that the financial cycle has become faster and more transparent. This digital flow of money helps the state to:
- Combat inflation by regulating the money supply.
- Provide accurate, real-time data to support economic decision-making.
- Enable the private sector to carry out financial and commercial transactions without time or geographic constraints.
Outlook for the Future
Total electronic transactions in Libya are expected to exceed 400 billion dinars by the end of 2026, positioning the country among regional leaders in banking digital transformation.
