Libyan Banking Conference Focuses on Compliance Regulations Amid Global Concerns

The second annual Libyan Banking Conference on Compliance has begun in Tripoli, Libya’s capital, under the auspices of the Central Bank of Libya (CBL) and in partnership with the Arab Banking Corporation (Bank ABC). The three-day event kicked off yesterday, featuring top officials from the banking sector.

Key Participants

• Directors from CBL departments
• Representatives from Bank ABC offices in Bahrain, UK, Tunisia, and Libya
• Executives from Libyan commercial banks, sovereign investment funds, and electronic payment companies

Conference Objectives

In his opening remarks, Governor Saddek Elkaber of the CBL emphasized the bank’s efforts to develop compliance systems that adhere to best practices and international standards in combating financial crimes and assessing risks related to money laundering and terrorist financing. The conference aims to:

• Provide a platform for Libyan, regional, and international banks to share experiences
• Discuss strategies for combating financial crimes
• Enhance the capabilities of Libyan banks in applying global compliance standards

Agenda Highlights

The agenda for this year’s conference includes discussions on:

• Challenges facing Libyan banks in compliance
• Best practices for combating financial crimes
• Latest regulatory requirements and industry developments

With global concerns over money laundering and terrorist financing on the rise, the event is expected to provide valuable insights into the latest regulatory requirements and industry developments. The conference will serve as a crucial platform for Libyan banks to stay updated on international standards and best practices in compliance regulations.