Exclusive: The Central Bank Instructs Banks to Prepare Their Systems to Test the “Instant Salary” Project Ahead of Direct Salary Disbursement

Our source obtained a correspondence from the Central Bank of Libya to the directors of commercial banks regarding the upcoming end of August, in which the Central Bank announced its support for the “Instant Salary” project aimed at facilitating the direct transfer of government sector employees’ salaries to their beneficiaries.

The Central Bank requested that bank directors prepare the testing environment for instant payments, the national switch, and the banking system starting from the date of this letter, ensuring they remain available at all times in the coming days. The “Instant Salary” project will be tested to disburse salaries to all accounts that have been verified by the end of the working day on Thursday, August 21. The Central Bank also requested the designation of a contact point to follow up on the readiness of the testing environment and to address any issues that may arise.