Libyan Banking Conference on Compliance Kicks Off

The second annual Libyan Banking Conference on Compliance has begun in Tripoli, Libya’s capital city, under the supervision of Libya’s Central Bank (CBL) and in partnership with Arab Banking Corporation “Bank ABC”.

High-Level Event Brings Together Industry Experts

The conference has brought together officials from the banking sector, including directors of CBL departments and representatives from Arab Banking Corporation Bahrain, United Kingdom, Tunisia, and Libya. Additionally, executives from Libyan commercial banks, sovereign investment funds, and electronic payment companies are in attendance.

CBL Governor Highlights Importance of Compliance Systems

CBL Governor Saddek Elkaber launched the conference, highlighting the bank’s efforts to develop compliance systems in line with best practices and international standards to combat financial crimes and assess risks related to money laundering and terrorist financing. According to Elkaber, “The conference serves as a platform for Libyan, regional, and international banks to share experiences, discuss strategies to combat financial crimes, and enhance the capabilities of Libyan banks in applying international compliance standards.”

Key Topics on Agenda

Some key topics on the agenda include:

• Challenges Facing Libyan Banks in Compliance: A discussion on the challenges faced by Libyan banks in implementing effective compliance systems.
• Best Practices for Combating Financial Crimes: Experts will share best practices and strategies to combat financial crimes, including money laundering and terrorist financing.

The conference aims to provide a platform for the sharing of experiences, discussion of strategies, and enhancement of capabilities among Libyan, regional, and international banks.