LIBYAN BANKING CONFERENCE SHINES SPOTLIGHT ON COMPLIANCE EFFORTS

Second Annual Libyan Banking Conference on Compliance Underway in Tripoli

The second annual Libyan Banking Conference on Compliance took place in Tripoli, Libya, on Monday. The event brought together top officials from the banking sector to share best practices and discuss ways to combat financial crimes.

High-Profile Attendees

The conference was co-hosted by the Central Bank of Libya (CBL) and the Arab Banking Corporation (Bank ABC). It featured a range of high-profile attendees, including:

• Directors from CBL departments
• Representatives from Bank ABC branches in Bahrain, the UK, Tunisia, and Libya
• Officials from Libyan commercial banks
• Sovereign investment funds
• Electronic payment companies

Keynote Address by CBL Governor Saddek Elkaber

CBL Governor Saddek Elkaber kicked off the event, highlighting the bank’s efforts to develop compliance systems in line with international standards and best practices. He emphasized the importance of combating financial crimes and risk assessments for money laundering and terrorist financing.

Conference Objectives

The conference aims to provide a platform for Libyan, regional, and international banks to:

• Share experiences and expertise
• Enhance the capabilities of Libyan banks in applying international compliance standards

Key Topics on the Agenda

Key topics on the agenda included:

• Challenges facing Libyan banks in the field of compliance
• Best practices for combating financial crimes

The Importance of Compliance

In today’s increasingly complex global fight against financial crime, this year’s conference is expected to be a vital forum for banking professionals to discuss the latest trends and developments in compliance and risk management.