Fintech & digital payments rules in Libya (2026)

The CBL licenses electronic payment companies and issues regulations—including for e-wallet issuance, prepaid cards, and POS acceptance networks—under the authority of the National Payments Council. As of 2025–2026, approximately 20 fintech and digital payment providers hold CBL authorisation, with Moamalat Financial Services operating the national switch infrastructure.

The CBL launched LYPay on 1 August 2024, an interbank instant payment service supporting QR-code P2P transfers and merchant payments. Initially rolled out across four commercial banks (Jumhouriya, Wahda, National Commercial, North Africa), the system has expanded and recorded rapid transaction growth, with CBL publishing regular statistics through early 2026.

E-payment transactions in Libya grew 186% in 2025, reaching LYD 389 billion, with 4.29 million app users and over 200 million transactions recorded. From 1 August 2025 the CBL mandated a shift to electronic payments across key public sectors including schools, universities, hospitals, and transport, accelerating adoption.

In March 2026, the CBL expanded e-wallet access to foreign legal residents and introduced new transfer limits, broadening financial inclusion. Licensed companies may issue e-wallets; the CBL has been directing integration of wallet loading/unloading and settlement processes with the national switch.

Libya has no open banking regulatory framework. The CBL has flagged open banking as a future objective (with Moamalat to potentially operate an open banking layer in collaboration with Oliver Wyman), but no legislation, API standards, or consumer-consent rules are in force as of 2026.

No BNPL-specific regulatory framework exists in Libya. The broader consumer credit and fintech licensing environment does not address buy-now-pay-later products, and no proposed legislation has been publicly announced as of May 2026.