Central Bank of Libya Adopts Comprehensive Regulations for Financial Leasing
Expertise France, in collaboration with the Central Bank of Libya, is pleased to announce a significant milestone in enhancing Libya’s financial services sector. As part of the EU-funded E-nable project’s third component, which focuses on improving financial services in Libya, the CBL’s Board of Directors has approved comprehensive regulations to establish and oversee financial leasing activities in the country.
Since 2022, Expertise France has partnered with the CBL and international experts to develop regulations aligned with global best practices. These regulations outline licensing requirements and supervisory frameworks for financial leasing companies in Libya, aiming to provide entrepreneurs and consumers with innovative financing solutions.
Financial leasing offers businesses and individuals alternative financing options, facilitating access to essential equipment and assets without the need for substantial upfront capital. This development is expected to stimulate economic growth, support small and medium-sized enterprises (SMEs), and contribute to Libya’s economic diversification.
The approval of these regulations marks an important step toward modernizing Libya’s financial sector. Expertise France remains committed to supporting the CBL in implementing these frameworks and fostering a robust financial leasing market in Libya.