Regulatory Alerts2024-01-10
Regulatory Rules of the Libyan National Payment Scheme
The Central Bank of Libya issued the Regulatory Rules of the Libyan National Payment Scheme to establish the legal and operational framework for all participants in the national payment infrastructure. The document mandates strict compliance standards for issuers, acquirers, merchants, and service providers regarding card issuance, transaction acceptance, fraud management, and data security. It further defines the rights, obligations, membership classifications, and penalty mechanisms for entities operating within the scheme to ensure system integrity and financial stability.
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