RegAlertLibya: fintech & payments regulation — 2026-08
RegulatedCBL centralizes fintech via Circular 6/2024; strict licensing, no sandbox
Frozen snapshot — the guide as it stood at the end of 2026-08. See the live guide for the current state.
Libya’s fintech and payments landscape is strictly centralized under the Central Bank of Libya (CBL). The regulatory framework has recently consolidated under Circular 6/2024, which establishes comprehensive licensing, governance, and operational requirements for payment institutions. The CBL mandates minimum capital, fit-and-proper assessments, and robust AML/CFT compliance for all payment service providers. There is no separate fintech sandbox; innovation is managed through specific circulars (e.g., SMS payments, salary limits) issued to licensed banks and operators.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution License Mandatory licensing under Circular 6/2024 for all payment service providers. | LYD 500,000 | — | Central Bank of Libya |
| E-money & wallet issuance | LicencePayment Institution License Wallet issuance falls under payment institution licensing; SMS payments regulated separately. | LYD 500,000 | — | Central Bank of Libya |
| Domestic money transfer | LicencePayment Institution License[1] Domestic transfers require CBL licensing and compliance with national payment scheme rules. | LYD 500,000 | — | Central Bank of Libya |
| Cross-border remittance | LicencePayment Institution License Cross-border remittances strictly regulated; fast remittances (MoneyGram/WU) require specific branch designation. | LYD 500,000 | — | Central Bank of Libya |
| Agent network | LicencePayment Institution License Agent networks must operate under the licensed payment institution's compliance framework. | LYD 500,000 | — | Central Bank of Libya |
| Open banking / account information | Uncertainverify with regulator No specific open banking framework identified; data sharing governed by general banking secrecy. | — | — | — |
| Foreign-exchange services | LicencePayment Institution License[2] FX services are tightly controlled; personal FX allowances are capped and monitored. | LYD 500,000 | — | Central Bank of Libya |
New — what changed recently
- 2024-06-24Circular No. 6/2024 — Established comprehensive licensing, governance, and operational requirements for payment institutions, including minimum capital and AML/CFT standards.
- 2024-06-24Circular No. 12/2024 — Issued guidelines for SMS-based payment services, mandating technical interoperability and multi-factor authentication.
- 2024-06-24Circular No. 9/2024 — Mandated centralized licensing via CBLKEY and set minimum paid-up capital of LYD 500,000 for payment service providers.
- 2024-06-24Circular 8/2024 — Amended banking regulations, updating capital requirements, licensing procedures, and reporting standards for financial institutions.
Market-entry checklist
- 1Secure CBL Payment LicenseApply for a Payment Institution License under Circular 6/2024 with LYD 500,000 minimum capital.
- 2Register via CBLKEYComplete centralized licensing registration through the CBLKEY system as mandated by Circular 9/2024.
- 3Implement AML/CFT FrameworkEstablish robust AML/CFT compliance programs and fit-and-proper assessments for key personnel.
- 4Comply with National SchemeAdhere to the Regulatory Rules of the Libyan National Payment Scheme for operational standards.
- 5Obtain Prior Product ApprovalSubmit new banking product or service applications to CBL for prior approval under Circular 24/2023.