The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, inaugurated a workshop on the transition to the latest standards and requirements of banking supervision on Thursday, which he organized with the Director of the Banking and Cash Control Department, and Research and Statistics, Naji Mohamed Issa, in cooperation with the USAID.

The workshop recommended that risk departments and Basel follow-up units of commercial banks operating in Libya, which are 22, carry out an internal actual evaluation for each bank and provide the Central Bank with comprehensive reports, on a regular basis, through sound methods for measuring and managing risks.

On its third day, the workshop concluded with the support and development of Basel applications in the banking industry, as it is the most effective option and a crucial necessity for banks to continue their activities in a sound manner, in order to protect banks from shocks, and in order to make the banking sector more resilient in the face of crises.