The Central Bank of Libya has revealed its correspondence sent to general managers of several oil companies — including Libya Oil Joint Venture, Golden Palm for Oil Services, International Trust for Oil Services, and Alrahila Company — instructing all stations to use electronic payment methods instead of cash transactions.
The Bank emphasized the importance of this measure, noting the benefits it brings to the national economy and to citizens through the use of electronic payment systems.
The Central Bank also issued multiple circulars on developing electronic payment channels, including one to Tadawul Company regarding the launch of instant payment via point-of-sale devices using QR codes; as well as to the General Syndicate of Bakeries and Mills, and the Municipal Guard, requiring bakeries to comply and conducting inspection campaigns to ensure that shops adhere to instant payment methods.In addition, the Bank instructed commercial banks to launch instant payment services using QR technology.
The Central Bank further requested its affiliated departments to submit weekly statistics on lypay and onpay services.
