Libya: Banking digitalization crucial for investment confidence, Planning Minister says

Libya’s Planning Minister Mohamed Al-Zidani has underscored the importance of digital transformation in the country’s banking sector as a driver of investment confidence.

Speaking at the Third Forum of Libyan Banks, held Monday, under the theme “A Digital Takeoff for Libyan Banks,” he said digitization is the product of collaboration between banks, regulators, and national expertise. According to him, modern digital systems will accelerate both domestic and international transactions, bolster financial stability, and provide greater assurance to foreign investors.

Al-Zidani described the digital shift as the dawn of a new era of smart banking services in Libya. He stressed that the reforms would simplify transactions, reinforce public trust in financial institutions, and serve as a foundation for reconstruction and development. He maintained that a stronger, more transparent banking system is key to attracting international companies and positioning Libya as a viable market for investment.