A study tour to Tallinn, Estonia, from May 15th-17th, was successfully concluded. It brought together the Central Bank of Libya and Expertise France’s team with key actors of the Estonian FinTech ecosystem. The goal of the visit is to learn from best practices and share the Estonian experience in building a regulatory environment that supports the development of the FinTech sector to enhance innovation in Estonia.
The delegation was composed of the Libyan Central Bank team: Dr. Fawzi Abu Khazam, Director of the Settlements and Payments Department, Mr. Musab Msalem, Director of the Information Technology Department; and Expertise France’s team headed by the Country Representative and Director of Programs, Mr. Julien Schmitt, and the Head of SME access to finance in the E-NABLE project, Ms. Lisjana Hila.
During the tour, participants met with the Estonian Financial Supervision and Resolution Authority to discuss in which areas regulators can contribute to developing the FinTech ecosystem. In addition, the team met with “Finance Estonia“, a public-private initiative aiming to establish Estonia as a vibrant and innovative location for financial services, to discuss the role of partnerships and initiatives between the public and private sectors in promoting financial technology development.
Also during the tour, the participants met with SALV, an Estonian RegTech startup, leading Europe’s first countrywide Anti-Money Laundering (AML) initiative in Estonia, and Aktors, a software development company playing a key role in the Estonian state information exchange system.
This tour comes within the framework of the E-NABLE project funded by the European Union and implemented by Expertise France to support the banking sector and digitize its services to achieve a sustainable and diversified economic recovery in Libya.