Bank card fees slashed as governor boosts cash access​​​​​​​​​​​​​​​​

Central Bank Governor Naji Issa announced on Sunday that commissions on bank card transactions at all points of sale (PoS) will be capped at less than 1% across all sectors without exception.

The announcement came during a meeting with commercial bank directors and relevant Central Bank department heads.

Participants reviewed policies governing foreign currency sales, electronic payment enhancement and liquidity availability measures, with special attention to ensuring adequate cash flow during the forthcoming Ramadan period.

Meeting attendees agreed to implement a new cash advance feature allowing customers to access liquidity through any bank’s electronic points of sale, broadening options for citizens to obtain cash.

Governor Issa emphasised that banks must adhere to standards and policies protecting cash reserves and maintaining the Libyan dinar’s stability.

He noted that expanding digital banking services would contribute to the country’s financial stability and support broader financial inclusion initiatives.​​​​​​​​​​​​​​​​