The Central Bank of Libya has issued new rules regulating electronic payment services, allowing licensed companies to issue electronic wallets to foreigners legally residing in the country.
Under the instructions, foreigners must present a valid passport or residency document issued by the relevant authorities, along with a phone number registered in their name and linked to their passport.
The bank also set daily transfer limits between electronic wallets. For Libyan citizens, the maximum transfer is 100,000 dinars between individuals, 500,000 dinars from an individual to a company and two million dinars from company to company.
For foreigners living in Libya, the daily transfer limit between individuals is set at 50,000 dinars, while transfers from an individual to a company are capped at 100,000 dinars per day.
The bank said the measures aim to strengthen financial inclusion and develop the electronic payments system, urging banks and payment companies to begin implementing the rules while regulatory oversight continues through field inspections.