Exclusive: CBL Corresponds with Moamalat Financial Services Company, Urging Completion of Integration with Licensed Electronic Payment Companies

In an exclusive update, our source obtained a letter from the Director of Payments and Settlements Department at the Central Bank of Libya to the CEO of Moamalat Financial Services Company.

The Central Bank has called for the completion of integration processes with Electronic Payment Companies licensed by the Central Bank. This includes automating the processes of loading and unloading electronic wallets, prepaid cards, and settling their transactions.

The directive emphasizes the swift completion of integration with licensed companies for issuing and accepting bank cards. This aims to ensure the acceptance of cards issued by licensed companies on the national distributor and vice versa, facilitating seamless transactions.

Furthermore, the directive emphasizes the completion of the national distributor’s connection with regional and international systems to accept international cards on the local payment network.